(Reuters) – Levi Strauss & Co said on Wednesday it was announcing a strategic review of its underperforming Dockers brand including a possible sale.
Shares of the denim maker were down nearly 8% in after-market trading.
The company missed Wall Street expectations for quarterly revenue, hurt by weaker consumer spending mainly in the Dockers brand, known for chinos and khakis. Levi’s third-quarter net revenue rose to $1.52 billion from $1.51 billion a year earlier. Analysts had expected $1.55 billion, according to data compiled by LSEG.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Alan Barona)
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