Weak Americas sales hurt Levi Strauss 2Q results

The privately held company said profit fell to $701,000 from $45.7 million a year ago. Revenue fell 8 percent to $936 million from $1.02 billion last year.

"We expected the second quarter to be tough, and it was," said John Anderson, president and chief executive, in a statement.

Revenue was hurt by a 19 percent drop in sales in the Americas, partly offset by a 10 percent rise in sales in Europe and a 6 percent rise in Asia Pacific.

Results in the Americas were hurt by a difficult U.S. environment, shipping issues related to shifting to a new enterprise-resource planning system, lower sales of U.S. Dockers products and early shipments made in the prior quarter due to the system change.

Selling, general and administrative expenses and restructuring charges both edged up year over year.

Anderson said he expects the rest of the year will be "challenging" due to the weak economy and continued investment in the company's enterprise-resource planning system.