Dr Martens has warned its earnings will fall below expectations after the bootmaker’s business was hit by warmer autumn weather and weak US sales.
The famous brand, which first became popular in the 1960s, said its trade in the US had become more challenging in recent months and that two of its major wholesalers had reduced orders.
Global profits for the firm fell by 55% to £25.8m in its half-year results.
Global profits for the firm fell by 55% to £25.8m in its half-year results.
Chief executive Kenny Wilson said trading in the second half of the year had been “mixed”, with sales across the world impacted by warmer weather at the start of autumn.
“In the USA, where there is an increasingly difficult consumer environment, our results have been more challenged, led by weakness in wholesale,” he added.
The company said in its results that widespread caution among Dr Martens wholesale customers had resulted in a “weaker order book than in prior years”, but added that trade in recent weeks in Europe, the Middle East and Asia-Pacific had improved.
Driven by poor trade across the Atlantic, the firm said it expected its full-year revenues to decline by a “high single-digit percentage”.
In its latest results, the company revealed US earnings were 31% lower in the six months to 30 September, compared with the same period last year.
Dr Martens has warned its earnings will fall below expectations after the bootmaker’s business was hit by warmer autumn weather and weak US sales.
Global profits for the firm fell by 55% to £25.8m in its half-year results.
The famous brand, which first became popular in the 1960s, said its trade in the US had become more challenging in recent months and that two of its major wholesalers had reduced orders.
Chief executive Kenny Wilson said trading in the second half of the year had been “mixed”, with sales across the world impacted by warmer weather at the start of autumn.
Global profits for the firm fell by 55% to £25.8m in its half-year results.
Global profits for the firm fell by 55% to £25.8m in its half-year results.
Chief executive Kenny Wilson said trading in the second half of the year had been “mixed”, with sales across the world impacted by warmer weather at the start of autumn.
“In the USA, where there is an increasingly difficult consumer environment, our results have been more challenged, led by weakness in wholesale,” he added.
The company said in its results that widespread caution among Dr Martens wholesale customers had resulted in a “weaker order book than in prior years”, but added that trade in recent weeks in Europe, the Middle East and Asia-Pacific had improved.
Driven by poor trade across the Atlantic, the firm said it expected its full-year revenues to decline by a “high single-digit percentage”.
In its latest results, the company revealed US earnings were 31% lower in the six months to 30 September, compared with the same period last year.
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