US jeans and apparel producer Levi Strauss & co has seen its second quarter earnings surge with a triple-digit increase. The company enjoyed the fruits of its considerable reductions in cost of sales and restructuring charges. The rise in earnings for the second quarter ended 29 May amounted to $26.8 million (£15.2 million), as opposed to $5.6 million the year before.

However, the San Francisco-based company does not plan on uncorking the champagne just yet. Levi’s continues to face a slack retail environment in the US and in Europe, resulting in a sales drop of 1.6 per cent to $943.7 million from $958.8 million. During the last six months earnings have soared 2,175.4 percent to $74.1 million from $3.3 million. Sales increased by 1.5 per cent to$1.95 billion from $1.92 billion.

“In a mixed second quarter retail environment, we delivered a solid quarter,” said CEO Phil Marineau. “We really are right where we expected to be at the mid-point of the year.”