Overview
- The bootmaker said higher US import duties on Vietnam and Laos output will reduce this year’s profit by a high single-digit million pounds, with roughly half of the effect expected to be offset in 2025–26 due to timing of actions.
- Selective price increases in the United States will begin in January 2026 on chosen products only, with no tariff-related rises planned for the UK.
- Management aims to fully neutralize the tariff burden from 2026–27 through tighter cost control and sourcing changes that shift US-bound production away from Laos toward Vietnam, using Laos more for non-US markets.
- The company reiterated guidance for £53 million to £60 million of underlying pre-tax profit for the year, which does not include the tariff hit.
- Half-year results showed a narrowed pre-tax loss to £11 million, and the tariff disclosure coincided with a share price drop of roughly 9%–10%.