Reported 4 days ago
Levi Strauss & Co. saw its shares drop by 11% after the company reduced its full-year sales growth forecast to 1%, down from a previous estimate of 1-3%. Challenges in international markets and declining sales of its Dockers brand contributed to the revised outlook. The company is exploring the sale of Dockers and reported that its wholesale business declined 6% while its direct-to-consumer sales grew by 10%. Levi's recent partnership with Beyoncé aimed to boost brand visibility amid weakening performance in other areas.
Source: YAHOO