Levi's shares drop 15% after weakness in wholesale business sinks quarterly revenue

The company also announced a shift from a primarily owned-and-operated distribution and logistics network in the US and Europe to one that relies more heavily on third-party providers. With Post wires Levi Strauss'shares tumbled more than 15% on Thursday after weakness in the denim maker's wholesale business led to downbeat second-quarter revenue. Levi Strauss has been grappling with choppy demand in its wholesale business as retailers have remained cautious about restocking against the backdrop of consumer ...