Retail watch: Major jobs cuts at Levi Strauss no ray of sunlight


Levi Strauss says it will cut 800 jobs in a cost-cutting move.

The private company says it will save as much as $200M in annual costs after the job reductions are enacted.

The development is interesting in light of the stance of many apparel retailers (AEO, ARO, ANF, LB, GPS, ZUMZ, EXPR, GES) that their recent shortfall in sales and traffic is a temporary weather-related issue. A 20% cut in its work force by Levi Strauss is no ray of sunshine for the outlook on the industry.

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