Dr Martens shares fall to all-time low amid stock chaos

Dr Martens lost a quarter of its value after it warned on profits as chaos at a new warehouse led to boots piling up.

The cult shoe brand has been hit by major operational issues at its new distribution centre in Los Angeles.

Shares in Dr Martens plunged to an all-time low after it said the problems would wipe between £15m and £25m off its revenues, and between £16m and £25m off its profits.

Dr Martens said it was expecting profits to come in at between £250m and £260m for the full year, compared to £263m in its previous year.

Shares dived a fifth on the update, taking Dr Martens to its lowest level since it joined the London markets in 2021. It had floated at 370p per share, with shares now trading at 155.58p.