Dr Martens shares slide on weak summer sales
Dr Martens reported wider first-half losses after weak summer sales dragged revenue lower. Shares dropped 15 percent as the company warned that upcoming holiday trading will determine its full-year results.
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DR. MARTENS PLC posted a first-half pretax loss of £13.7M ($18.2M) as revenue fell 9% to £290.4M ($385M) following weak summer demand. The disappointing results sent shares tumbling 15% during Thursday morning trading. Chief Executive Ije Nwokorie faces mounting pressure to revive the brand as it enters a high-stakes holiday shopping window.
