Global Softness Hits Levi’s Bottom Line 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. By Arnold J. Karr 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. This story first appeared in the July 11, 2012 issue of WWD. Subscribe Today. To continue reading this article... Subscribe Now Log In WWD logo This Article is Exclusive to Archive Subscribers To read the full article please contactWWD's Subscription Customer Service.