Dr Martens Issues Fourth Profit Warning, Shares Tumble

Weak US sales, warmer autumn weather, and reduced orders from major wholesalers contribute to the company's struggles.

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.