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"We were very cautious to keep our inventories in line"
- Blake Jorgensen, chief financial officer of Levi Strauss
U.S. month on month wholesale inventories declined 0.1 percent in September for the first time since December 2009, said the Census Bureau on Wednesday. Economists expected the reading to advance 0.5 percent, after 0.1 percent increase in August.
"Inventories were drawn down fairly rapidly in the third quarter," Samuel Coffin, an economist at UBS Securities LLC in Stamford, Connecticut, told before the data was released. "The fact that the disinvestment was as fast as it was suggest the possibility for faster production in the fourth quarter."
"We were very cautious to keep our inventories in line," said Blake Jorgensen, chief financial officer of Levi Strauss, on October 11. "I'm guessing you will see that with many others with a similar business model. We remain cautious around where the future is going over the next couple of quarters, particularly here in the U.S. with the consumer constrained."