Faded Jeans

The Associated Press has reported that privately held Levi Strauss & Co. (San Francisco) lost $24.5 million in the first quarter 2003, reflecting a more severe slowdown in sales than management had anticipated.

The company's loss for the three months ended Feb. 23, 2003, contrasted with a profit of $42.5 million in the same period a year earlier.

Sales for the quarter dropped 6 percent.