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Shares of Levi Strauss & Co. rallied after hours on Wednesday after the jeans maker reported fourth-quarter results and a full-year sales forecast that beat expectations, even as demand at its own stores clashed with a pullback among clothing retailers and a harsher foreign-exchange backdrop.
However, a big chunk of those sales came from outside of jeans, amid signs of a shift in pants preferences, as people return to offices and other pre-pandemic patterns.