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US shoppers put the boot into Doc Martens as profits dive
May 30, 2024
|Evening Standard
RETAIL Daniel O'Boyle DR. MARTENS today unleashed a major cost-cutting drive to restore its fortunes after profits slumped by almost half in a difficult year for the iconic boot brand.
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The business has found the going exceptionally tough in the US, where revenue fell by a quarter amid lower retail footfall, warehouse issues and "widespread caution" from wholesalers. The company, which listed its shares in London only three years ago, issued four profit warnings in 2023, with shares taking a kicking Globally, revenue fell by 12% to £877 million in the year to March 31, while profits tumbled to £97.2 million. Sales outside of the US were down as well, albeit more slowly.
هذه القصة من طبعة May 30, 2024 من Evening Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من Evening Standard
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