Levi Strauss Sales Drop 13% in Fiscal ’98

Levi Strauss & Co., the largest U.S. clothing maker, said fiscal 1998 revenue fell 13% because of poor sales of its namesake brand. Levi is a privately held company, so it doesn’t release earnings reports, quarterly revenue or competitive data on specific business units or brands. Sales declined to $6 billion in the year ended Nov. 29, from $6.9 billion in fiscal 1997, Levi said. Sales of Dockers, its khaki trousers line, rose to record levels, and its Slates is the top-selling dress pants line in U.S. department stores, Levi said. San Francisco-based Levi, which began making its 501 brand button-fly jeans for gold miners in 1887, has lost market share to designer labels such as Tommy Hilfiger Corp.’s signature brand and inexpensive private brands such as J.C. Penney Co.’s Original Arizona Jean Co.