Levi’s Q3 Sales Rise 5%, Announces Plans to Sell Struggling Dockers Brand

Levi Strauss & Co. reported a 5% rise in Levi’s brand sales during its fiscal third quarter, marking the largest gain in two years. Revenue fell short of expectations, but its earnings per share slightly exceeded analyst predictions.  The company's Dockers brand continues to drag down overall performance, with sales dropping 15%. Levi’s announced plans to sell the struggling Dockers brand, launched in 1986 as an alternative to denim. CFO Harmit Singh stated the move will improve margins and reduce revenue volatility. Shares of Levi’s fell by more than 8% in extended trading following the news.