(Reuters) – Levi Strauss said on Wednesday it is considering a sale of its underperforming Dockers brand, known for its chinos and khaki clothing.

Shares of the denim maker fell nearly 8% in extended trading after the company missed quarterly sales expectations and announced a strategic review of Dockers.

Levi is currently working on a strategy to operate with a narrower range, focus on its core denim brand and produce clothing and accessories that are in line with current consumer trends.

The company has already unveiled cost-cutting plans aimed at boosting profits and divesting from businesses that haven't made much in some regions, such as the Denizen brand and its footwear category.

As part of cost-cutting efforts, the company had also reduced its corporate workforce and consolidated operations in Europe.

That helped the company post adjusted earnings of 33 cents per share in the third quarter, beating expectations of 31 cents per share, according to analyst estimates compiled by LSEG.

As part of the strategic review process, the company retained Bank of America as financial advisor and has not set a deadline or final schedule for completion.

Levi has noted that high-end consumers are feeling increasing signs of pressure in the U.S. and that consumers in Europe are also extremely cautious, hurting sales of its apparel – particularly the Dockers brand.

Docker sales fell 15% in the third quarter. The brand contributed about 5% of the reported quarter's revenue of $1.52 billion, missing analysts' estimates of $1.55 billion.

“I think Michelle Gass, the CEO of Levi's, is increasing the focus on the core brand that generates the majority of sales,” said Dana Telsey of Telsey Advisory Group.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Alan Barona)