Levi Strauss announces strategic review of Dockers brand including sale

(Reuters) – Levi Strauss & Co (NYSE:) 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.