Home Money Savings put Dr Martens on a stable footing as bootmaker says business is on track

Savings put Dr Martens on a stable footing as bootmaker says business is on track

0 comments
Dr Martens said business since the start of its financial year in April

Dr Martens said business since the start of its financial year in April “has been in line with expectations”.

Dr. Martens said the operations are aimed at reducing costs.

It said business since the start of its financial year in April “has been in line with expectations” and it has remained true to its annual guidance for the year ahead – of single-digit percentage declines in sales and “a worst-case scenario” of profits falling by a third.

The boot maker has promised a detailed update on its interim results in November.

Last month, the company announced plans to make savings of £20m-£25m following a sharp fall in annual profits. Shares rose 1.6 per cent, or 1.2p, to 74.85p.

The company has been hit by supply chain problems in the US, problems that came just as an economic crisis discouraged shoppers from shelling out for its £170 shoes.

DIY INVESTMENT PLATFORMS

Easy investment and ready-to-use portfolios

AJ Bell

Easy investment and ready-to-use portfolios

AJ Bell

Easy investment and ready-to-use portfolios

Free investment ideas and fund trading

Hargreaves Lansdown

Free investment ideas and fund trading

Hargreaves Lansdown

Free investment ideas and fund trading

Flat rate investing from £4.99 per month

interactive investor

Flat rate investing from £4.99 per month

interactive investor

Flat rate investing from £4.99 per month

Stock Investing: Community of Over 30 Million

eToro

Stock Investing: Community of Over 30 Million

eToro

Stock Investing: Community of Over 30 Million

Free and commission-free stock trading per account

Trade 212

Free and commission-free stock trading per account

Trade 212

Free and commission-free stock trading per account

Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.

Compare the best investment account for you

You may also like