Overview

• Dr Martens has issued its fourth profit warning in a year, causing shares to plunge by more than 25%.
• The company attributes the decline to warmer autumn weather, weak US sales, and reduced orders from major wholesalers.
• US earnings for the company were 31% lower in the six months to September 2023, compared to the same period last year.
• The company expects its full-year revenues to decline by a 'high single-digit percentage'.
• Despite the challenges, the company has seen steady demand in the UK, Europe, and the Asia-Pacific region.