Dr. Marten braced to report a sharp drop in profits and revenue as US sales plummet

Economy
By Liam

By city and financial reporter

Updated:

Best foot forward: City analysts have predicted profits will fall by a third to £125m

Dr. Marten is prepared to report a sharp decline in profits and sales as sales in the US plummet.

The London-listed company’s turnover is expected to fall to £900m, down 11 per cent on last year, when it broke the £1bn mark for the first time.

City analysts have predicted profits will fall by a third to £125 million when the cult boot maker announces its annual results on Thursday.

Dr. Martens has suffered from declining revenues, with double-digit declines in the US in its April trading update.

The shoe brand has suffered an 80 percent drop in share price since its IPO three years ago.

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