Bootmaker says global sales fell by 18%, with cash-strapped consumers refusing to splash out at Christmas
Business live – latest updates
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.
More Stories
Liberal-aligned thinktank running anti-Greens ads received $600,000 from coal industry in Queensland election
Aston Martin limits exports to US because of Trump tariffs
Why is Trump ending the ‘de minimis’ tariff loophole on low-value imports?