An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019.
David Paul Morris | Bloomberg | Getty Images
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Shares of Levi Strauss briefly rose 2%and then settled slightly above its closing price after the company reported a 4% decline in profits for its third quarter. The denim retailer pointed to struggling sales in its wholesale business in the Americas.
“U.S. wholesale was challenged … particularly the legacy department stores and chain stores, where (the) much publicized traffic declines have negatively impacted our business,” CEO Chip Bergh said in an…