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Dr. Martens stock jumps after boot maker says U.S. sales will remain challenged
The brand expects to see a double-digit decline in wholesale revenue in the U.S. by 2025.
Category: stocks
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Dr. Marten's Pessimistic Expectations for This Year's U.S. Revenue Cause Shares of Iconic Boot Maker to Plunge
Dr. Martens, the maker of thick-soled boots, has warned of a tough year ahead. Shares of Dr. Martens tumbled more than 30% on Tuesday as the iconic British brand forecast a double-digit drop in wholesale revenue from its biggest market, the U.S., compared with last year. Shares of Dr. Martens were temporarily suspended from trading on the London Stock Exchange earlier Tuesday, with the stock falling to an all-time low of £0.64, according to FactSet.
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