Oct 9 (Reuters) - Levi Strauss & Co reportedlower quarterly revenue and profit, as economies in Europe andAsia slowed and the company phased out its Denizen brand inAsia.
Overall, net revenue for the three months ended August 26fell 8.6 percent to $1.1 billion, while net income at theprivately held clothes maker slipped to $28 million from $32million a year earlier. Levi Strauss is famous for its denimclothing.
The company's gross profit margin held steady at 47.3percent of sales in the third quarter, helped by lower cottoncosts.
Sales increased at Levi Strauss' own stores in the Americasand Europe, where it charged higher prices. In addition to those
stores, Levi Strauss sells its clothes through other retailerssuch as Macy's Inc and J.C. Penney Co Inc .
In Asia, revenue slid for the second consecutive quarter,after a decline in wholesale sales and an economic slowdown thecompany said was particularly acute in India.
(Reporting by Phil Wahba in New York)
Keywords: LEVISTRAUSS RESULTS/