Dr Martens’ revenue plummets by a fifth as US sales plunge
by Kalyeena Makortoff from on (#6J46R)
Bootmaker says global sales fell by 18%, with cash-strapped consumers refusing to splash out at Christmas
Dr Martens said revenue dropped by nearly a fifth in the final three months of 2023, as sales in the US continued to plunge and inflation-weary consumers carried on reining in their spending.
The British bootmaker said in a trading update on Thursday that sales fell by 18% in its third quarter to 274m, and that, like many retailers, it had seen a softer December", with many cash-strapped shoppers deciding not to splash out for Christmas.
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