Levi Strauss stock falls 5% after outlook is cut

Levi Strauss & Co. shares fell in the extended session Thursday after the jeans company cut its forecast for the year while topping the Wall Street earnings by a penny a share.

Levi Strauss shares fell more than 5% after hours, following a 0.8% rise to close the regular session at $14.23.

The company said it expects revenue to grow by 1.5%…