Levi Strauss shares tank 10% as company considers possible sale of Dockers brand

📆 2024-10-03 8:21 AM
📰 globebusiness

⏱ Reading Time:
30 sec. here
12 min. at publisher
📊 Quality Score:
News: 50%
Publisher: 66%

Brand News

Levi,Cent,Quarter

The denim maker has announced a strategic review of Dockers, a maker of chinos and khakis, which has been hurt by cautious spending in Europe and the U.S.

said on Wednesday it was considering a sale of its underperforming Dockers brand and forecast fourth-quarter revenue below expectations, sending its shares down 10 per cent in extended trading.

Levi is in the midst of a turnaround strategy to operate mainly by offering tighter assortment that focuses on core denim clothing and achieve major sales through its direct-to-consumer stores at full prices. As part of the strategic review process of Dockers, the company has retained Bank of America as its financial adviser and has not set a deadline or definitive timetable for its completion.

“Dockers is a brand that has been out of step with consumer trends for some time ... She is positioning Levi Strauss to stick to what it knows best,” said eMarketer analyst Zak Stambor.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MLB teams to have helmet ads in postseason featuring ostrich logo of German apparel company StraussNEW YORK (AP) — Major League Baseball teams will have advertising on their helmets during the postseason.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

MLB teams to have helmet ads in postseason featuring ostrich logo of German apparel company StraussMajor League Baseball teams will have advertising on their helmets during the postseason.
Source: CTVNews - 🏆 1. / 99 Read more »