** Apparel maker Levi Strauss & Co's <LEVI.N> shares up ~2.8% at $18.07 after co says it will sell Dockers apparel brand to Reebok and Van Heusen owner Authentic Brands Group for $311 mln
** Deal will help LEVI focus more on its flagship Levi's brand and Beyond Yoga activewear line
** "The Dockers transaction further aligns our portfolio with our strategic priorities, focusing on our direct-to-consumer $(DTC.AU)$ first approach, growing our international presence and investing in opportunities across women's and denim lifestyle," Levi CEO Michelle Gass says
** LEVI expects deal to be completed by end of July for U.S. and Canada operations, with remaining global operations closing by January 2026
** Co says it plans to use $100 million of cash proceeds for share repurchases
** YTD shares up ~2%
(Reporting by Rajarshi Roy)
((Rajarshi.Roy@thomsonreuters.com ))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.