Levi Strauss (LEVI) shares slipped Thursday when the clothing maker warned that sales would fall because of difficult economic conditions and possible U.S. trade moves.

The company famous for its eponymous jeans said it expects full-year adjusted earnings per share (EPS) of $1.20 to $1.25, and revenue to fall 1% to 2% year-over-year, or $6.23 billion to $6.29 billion. Analysts surveyed by Visible Alpha were looking for adjusted EPS of $1.26 and revenue of $6.29 billion.

CFO Harmit Singh told analysts on the earnings call that "there continues to be a lot of uncertainty related to the macro environment, potential tariffs, changes in the tax code, as well as worsening foreign exchange," according to a transcript provided by AlphaSense.

The guidance offset strong fourth-quarter results. Levi Strauss reported adjusted EPS of $0.50, with revenue rising 12% to $1.84 billion. Both exceeded estimates.

Despite today's roughly 1.5% decline, shares of Levi Strauss are up about 6% over the past year.