Levi Strauss wants to capitalize on commercial vacancies, CEO says

Levi Strauss CEO Chip Bergh said Thursday the jeans maker is shopping for more space as commercial rental vacancies are up.

The San Francisco-based company wants to add to its 40 stores and 200 outlet locations in the U.S. in order to boost its direct-to-customer operations, the executive said.

“That represents a huge opportunity especially with the, you know, the commercial real estate tsunami that is happening right now,” Bergh told CNBC’s Jim Cramer in a “Mad Money” interview. Vacancy rates at regional malls rose to a record 11.4% in the first quarter, up from 10.5% in the fourth quarter, according to data from Moody’s Analytics.

“It gives us an opportunity to secure great locations at…