Overview
- Dr Martens plans to save up to £25 million through organizational efficiency and streamlined operations.
- The company reported a 43% drop in profits and a 12% decline in revenue for the past financial year.
- Weak consumer demand in the US, its largest market, significantly impacted sales.
- CEO Kenny Wilson will step down, with Ije Nwokorie set to take over by year-end.
- Increased marketing investment in the US is part of the recovery strategy for future growth.