Levi's profits rise in Q3

Advantageous currency exchange rates and rising sales from company-owned stores helped apparel company Levi Strauss & Co to a third quarter net profit of $69 million, up 14 percent on last year.

Revenues rose 5.7 percent to $1.11 billion from $1.05 billion, with gains across all three of the company's geographical markets. Sales rose 5.5 percent to $1.09 billion from $1.03 billion.

International sales increased as new stores opened and the dollar declined against other currencies.

"I am pleased with our solid third-quarter performance," said John Anderson, president and chief executive officer. "All three of our regions grew, demonstrating that our global strategies are working even in the face of difficult economic conditions around the world. The Levi's brand is performing well globally. And our emerging markets and expanding retail network continue to provide revenue growth."

"Looking at the balance of the year, we are very mindful that economic conditions are deteriorating in many our key markets around the world. In this challenging environment, we are continuing to invest in the business, including launching our first-ever global Levi's 501 campaign," added Mr. Anderson.