USA Levi Strauss considers sale of the Dockers brand

With the Dockers brand, Levi Strauss supplemented the jeans business for which the group is primarily known. Now it could change hands.

Jeans giant Levi Strauss is considering selling its Dockers brand following a decline in business. Bank of America has been engaged to examine all options, Levi Strauss announced. No deadline has been set for the conclusion of the deliberations.

The Dockers brand has been around since the 1980s. In the last quarter, its revenues fell by 15 percent year-on-year to 73.7 million dollars.

Group-wide, Levi Strauss had to trim its sales forecast. Previously, growth of between one and three percent was expected for the financial year to the end of November, but now Levi Strauss is only expecting a one percent increase.

In the last quarter, Levi Strauss' consolidated sales stagnated at a good 1.5 billion dollars. The bottom line was a profit of just under 21 million dollars after 9.6 million dollars a year earlier.