US EditionPublished • loading... • Updated
Dr Martens Warns over US Tariff Hit
Dr Martens expects a high single-digit million-pound profit hit from US tariffs on Vietnam-made goods and plans targeted US price rises to offset costs by 2026-27.
- On September 28, Dr Martens, the footwear group, said it expects a multimillion-pound tariff hit this year and narrowed pre-tax losses to 11 million for the six months to September 28.
- Because most shoes are made in Vietnam, Dr Martens faces higher US tariffs linked to President Donald Trump's trade measures on these goods this year.
- The company now expects a `high single digit` million-pound impact on full-year profits, while Ije Nwokorie, chief executive, said shoe volumes rose by 33 per cent with strong new product launches.
- Shares in the firm fell 8 per cent in Thursday trading after Dr Martens said it remains on track for full-year profits of between �11 million and �60 million, excluding tariffs.
- Planned actions focus on fully offsetting tariff costs through cost control measures, flexible product sourcing, and targeted pricing actions in the US, the group said, driving their timing.
Insights by Ground AI
10 Articles
10 Articles
Coverage Details
Total News Sources10
Leaning Left5Leaning Right0Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 44%
Factuality
To view factuality data please Upgrade to Premium
