Published in Fashion on 09-04-2021
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Levi Strauss & Co. saw sales fall significantly in the first quarter due to store closures in Europe. The jeans manufacturer is nevertheless raising its forecast for the current year, believing that the worst of the corona crisis is behind it.
Fewer shoppers
Levi's recorded sales of 1.31 billion dollars (1.1 billion euros) in the period from December to February, a decrease of 13% compared to the same period last year. The double-digit decline in sales is mainly due to the ongoing store closures in some markets. For example, 4 out of 10 stores in Europe are currently completely closed, while others are only partially open, according to the retailer. In the United States, too, there is significantly less traffic on the high streets.