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Levi's sales fall 62% in second quarter, to cut 15% of corporate workforce
A complete recovery "will likely take some time," Levi & Strauss Co. CEO Chip Bergh said.
Economy
The denim maker Levi Strauss & Co.’s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the Covid-19 crisis.
Consumers by and large have shifted away from tight pants and denim, opting instead for loungewear and pants with elastic waistbands to wear around the house — if they’re even shopping for clothes.