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…