Denim-maker Levi Strauss is looking to sell its Dockers brand as the khaki maker drags down the company's overall performance.

Levi Strauss said on Wednesday it was considering a sale of its underperforming Dockers brand and forecast fourth-quarter revenue below expectations, sending its shares down 10% in extended trading.

Levi Strauss cut its annual revenue guidance and said it was exploring selling its Dockers fashion line, as Chief Executive Michelle Gass looks to center the company on its namesake brand. Shares (

Shares of Levi Strauss & Co. LEVI fell sharply in today's pre-market trading following third-quarter results. Levi Strauss posted better-than-expected earnings for its third quarter, while sales missed estimates.

Levi Strauss' 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.

Shares of Levi Strauss & Co. slid after hours on Wednesday after the jeans maker tempered its full-year sales forecast, even as management said its core Levi’s brand was leading the way toward improvement and called out potential gains from its new partnership with Beyoncé.

Levi Strauss' shares fell about 7% on Thursday after a tepid forecast for holiday-quarter revenue underscored the denim maker's struggles with sluggish demand from retailers navigating weak spending by consumers.