Weekend Briefing: Fashion brands keep cutting costs to make up for lowered revenue

Fashion brands across the industry are cutting costs, laying off employees and closing stores to make up for falling revenue. Don’t forget to subscribe to the Glossy Podcast for interviews with fashion industry leaders and Week in Review episodes, and the Glossy Beauty Podcast for interviews from the beauty industry. –Danny Parisi, sr. fashion reporter

The great belt-tightening continues

Last week, Levi’s posted earnings showing a $10 million loss against a $100 million profit from the same period last year. Yet despite that change, Levi’s is confident that this year its profits will return.

A big way it plans to get there is by cutting costs. The company has already had a round of layoffs this quarter, hitting not just low-level employees but senior leadership, as well.

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