Levi Strauss & Co reported a 53% drop in its fiscal first-quarter profit.
Levi's quarterly profit slipped to $50 million, versus a year-ago profit of $107 million.
Its revenue fell 1.5% to $1.13 billion, while gross margin shrank to 51% versus 51.6%.
Levi's sales fell 3.1% in the Americas, while sales gained 1% in Europe.
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