Dr Martens shares slump after profit warning
Fashion brand Dr Martens has warned that profit margins will slip on the back of weaker consumer demand, investments and the strong dollar, sending shares in the company tumbling. The UK bootmaker said direct-to-consumer sales – those from its own stores and websites – were “slower than anticipated” over the latest quarter. But chief executive Kenny Wilson said the firm was “well set for Christmas” compared to last year. The company told shareholders that revenues increased by 13 per
cent to £418.6m over the six months to September, compared with the same period last year.