Shares of Levi Strauss & Co. slid after hours on Wednesday after the denim maker forecast a dip in sales for the year ahead, citing trepidation over tariffs and other issues even as the company benefited from holiday-season momentum.

Levi Strauss forecast annual profit well below analysts' estimates, taking a cautious stance despite a strong holiday quarter and sending its shares down about 8% in extended trading on Wednesday.

Levi’s recorded gross margin of 61.3% in Q4 FY24, rising by 350 basis points from the previous year’s figure of 57.8%. This was primarily attributed to reduced product costs – including savings from Project Fuel initiatives – favourable channel mix and increased full-price sales.