Levi Strauss trims guidance as it weighs sale of Dockers business

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Denim-maker Levi Strauss is looking to sell its Dockers brand as the khaki maker drags down the company’s overall performance.

The denim maker is seeing strong gains in its namesake brand and Beyond Yoga but sales at Dockers plunged 15% during the quarter.for new jeans, but the company's overall business is being dragged down by its Dockers brand, which the company is now considering selling off, it announced Wednesday.Sales at Levi's brand were up 5% during its fiscal third quarter — the biggest gain in two years — but overall revenue came in flat and lower than Wall Street had expected.

Throughout the 1990s and 2000s, khakis were a mainstay in most consumers' closets but these days, it has fallen out of fashion. The efforts that Levi's has made to differentiate Dockers led to too much overlap with the Levi's brand, which has expanded into a lifestyle brand that offers a lot more products than jeans.

During the quarter, its gross margin rose by 4.4 percentage points, which Singh attributed to the direct-selling strategy, lower cotton costs and better products that didn't need to be marked down to be sold.

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