Levi Strauss & Co today reaffirmed its fourth quarter and full-year targets, as well as its goals for 2003.

At the end of October the company said it expected net sales for the fourth-quarter of 2002 would be approximately the same as the fourth quarter of 2001 – when it earned $63 million, on sales of $1.23 billion.

The company also said it expected 2002 full-year net sales to be flat to down 4 per cent from 2001, when it earned $151 million on sales of $4.26 billion. In addition, it expected 2002 full-year gross margins to be between 40 per cent and 42 per cent.

In an announcement Monday, Levi Strauss said it expected 2003 sales to grow 2 per cent to 5 per cent with gross margins of 40-42 per cent.

The apparel maker predicts its debt level at the end of 2003 will be about equal to the expected 2002 year-end level of about $1.85 billion.