Levi Strauss’s shares slumped about 11% in premarket trading on Thursday after it forecast tepid holiday quarter revenue as the denim maker grapples with weak demand from retailers with consumers paring back spending.
“While challenges remain near-term, we remain encouraged by continued strength in Levi’s business as well as the announcement that the company is evaluating strategic alternatives for the Dockers business,” Telsey Advisory Group analyst Dana Telsey said.
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