8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 26, 2005

LEVI STRAUSS & CO.

(Exact name of registrant as specified in its charter)

DELAWARE	002-90139	94-0905160
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1155 BATTERY STREET

SAN FRANCISCO, CALIFORNIA 94111

(Address of principal executive offices, including zip code)

(415) 501-6000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))

ITEM 8.01   Other Events.

Tax Settlement

On August 29, 2005, we completed settlement discussions with the Internal Revenue Service (the “IRS”) relating to our consolidated U.S. federal corporate income tax returns for the years 1990 – 1999. As a result, the examination of our income tax returns by the IRS for those periods is now closed.

Our expected cash settlement payment, which we anticipate making in our fiscal fourth quarter, is consistent with our earlier projection of cash requirements for prior years’ income tax liabilities contained in our Quarterly Report on Form 10-Q for the quarterly period ended May 29, 2005. We are currently evaluating the impact of the settlement on our financial results for our third quarter, which ended on August 28, 2005. Based on our preliminary evaluation, we do not currently expect the resolution to have a material adverse impact on our results of operations for the period.

As we disclosed in our Form 10-Q, in June 2005 we completed our discussions with the IRS regarding our U.S. consolidated federal income tax returns for the years 1986 – 1989, and the examination of our returns for those periods was closed. The IRS has not yet begun an examination of our 2000 – 2004 U.S. federal corporate income tax returns.

Levi Strauss (UK) Limited

On August 26, 2005, Levi Strauss (UK) Limited issued a press release entitled “Levi Strauss UK Strengthens Retail Presence.”

A copy of the press release, dated August 26, 2005, is attached hereto as Exhibit 99.1.

ITEM 9.01.   Financial Statements And Exhibits.

(c) Exhibits.

99.1. Press release of Levi Strauss (UK) Limited, dated August 26, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LEVI STRAUSS & CO.
DATE: August 31, 2005	By:	/s/ Gary W. Grellman
	Name:	Gary W. Grellman
	Title:	Vice President, Controller

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release of Levi Strauss (UK) Limited, dated August 26, 2005

EX-99.1

Levi Strauss UK Strengthens Retail Presence

Northampton, 26 August 2005 – Levi Strauss UK Ltd. today announced that it has signed an agreement to purchase seven Levi’s® stores and five factory outlets from franchisee Kellawn Ltd. This move is part of the company’s strategy to own and operate a number of Levi’s® stores in the UK to support the repositioning of the Levi’s® brand in the premium end of the jeans segment.

The deal will give Levi Strauss UK a larger base of owned and operated Levi’s® stores where it will deploy the company’s latest merchandising techniques in a consistently branded environment.

General Manager of LSUK Matthew Mycock said, “Purchasing these stores is a further example of our commitment to developing our retail business. It will allow us to better meet the needs of the people who buy our jeans by bringing to the shop floor our full range of jeanswear, accessories and unique branding, in an environment that demonstrates the Levi’s® brand’s latest techniques in merchandising.”

Levi Strauss UK (LSUK) currently operates a distribution network of 29 franchised and six owned and operated Levi’s® stores in addition to its wholesale customer base. The twelve stores to be transferred to LSUK are spread across the UK in convenient shopping locations. Transitioning these stores to Levi Strauss UK will eventually add approximately 160 store employees to the current 300-strong organisation.

Paul Mason, President of Levi Strauss Europe, said: “This agreement is an example of our strong commitment to retail success in the UK. Across Europe, it is a key part of our strategy to expand our retail presence, primarily through franchisees yet also with owned and operated stores. This will allow us to demonstrate to our retail customers that we are better able to understand and, therefore, support their business.” Mason brings extensive retail and brand experience to the company from his prior roles, including Matalan PLC, ASDA Wal-Mart and B&Q/Kingfisher.

Concluded Mason, “Our research shows that a well-executed controlled retail presence has a positive influence on our wholesale business, and we believe that creates a win-win situation.”

# # #

About Levi Strauss & Co., Levi Strauss Europe and Levi Strauss UK

Levi Strauss & Co. is one of the world’s leading branded apparel companies, marketing its products in more than 100 countries worldwide. Levi Strauss Europe is responsible for designing, manufacturing and marketing jeans and casual wear under the Levi’s®, Dockers® and Levi Strauss Signature® brands in 42 countries in the region.

1

The division has a network of nine sales offices and eight distribution centres, employing a total of over 3,000 people. Its headquarters are located in Brussels, Belgium.

Levi Strauss UK was established in 1971 and has an office and distribution centre in Northampton, as well as a sales office in London. The company markets and sells all three LS&CO. brands and employs over 300 people. Levi’s® products are available through approximately 1,280 UK retail stores, 35 of which are currently franchised or owned and operated. The Dockers® brand is sold through 124 stores in the UK and Levi Strauss Signature® jeanswear is available in 145 supermarket outlets.

Media Contact:

Cedric Jungpeter

Levi Strauss European Press Office

Tel.: +32 2 641 6580

Email: europe.press.office@levi.com

2