Dr. Martens reports 12.3% revenue decline, 42.9% profit drop due to weak US demand.

Dr. Martens, the popular footwear brand, reported a significant decline in annual revenue and profit due to weak US demand. The company's revenue fell by 12.3% to £871.1 million, while pre-tax profit decreased by 42.9% to £97.2 million. In response, Dr. Martens plans to cut costs by up to £25 million, aiming to achieve savings through organizational efficiency, better procurement, and operational streamlining. The company will also invest more in USA marketing to boost demand and return to growth in FY26.

May 30, 2024
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