Levi Strauss & Co.’s earnings flipped into the black in the second quarter as revenues grew vigorously.
For the three months ended May 29, the San Francisco-based company reported net income of $21 million, compared with a net loss of $14.4 million in the year-ago quarter. The 2010 quarter was negatively impacted by two significant discrete tax charges and an early debt extinguishment loss from a refinancing.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"