By  on July 10, 2012

The cotton cost conundrum of 2011 is quickly giving way to the global consumer crisis of 2012, putting apparel firms’ sales and profits at risk.

Levi Strauss & Co. checked in as the most recent victim of slumping worldwide sales on Tuesday when it reported that its second-quarter profits dropped by more than a third as combined revenues in Europe and the previously firm Asia-Pacific region dropped at a double-digit pace, and operating profits in overseas markets receded more than 20 percent.

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