Levi Strauss has announced a strategic review of Dockers, which has been hurt by cautious spending in Europe and the U.S. In the past quarter, Dockers’ revenues fell by 15 percent year-on-year to 66,7 million euros.
Bank of America had been engaged to examine all options, shared the retailer, with no deadline having been set for the conclusion of the review.
“We are narrowing our focus to realize the full potential of the Levi’s brand as well as accelerate Beyond Yoga. Accordingly, we are undertaking an evaluation of strategic alternatives for the global Dockers business,” said CEO Michelle Gass in a quote by Reuters.
Levi Strauss has had to trim its sales forecast across the Group. Previously, growth of between one and three percent was expected for the financial year to the end of November, but Levi Strauss is now forecasting growth of only one percent.
