Levi Strauss warns of weak second half

Levi Strauss also said it would cut about 700 positions, or roughly 15% of its workforce, in non-retail, non-manufacturing segments that would help it save US$100mil annually

NEW YORK: Levi Strauss & Co cautioned its business would be hit in the second half of the year, even as the denim apparel maker’s sales have been improving at its reopened stores, following government-mandated Covid-19 lockdowns.

Levi Strauss also said it would cut about 700 positions, or roughly 15% of its workforce, in non-retail, non-manufacturing segments that would help it save US$100mil annually.