Dr. Martens stock plunges after dour US revenue outlook
Time:2024-05-21 09:02:30 Source:healthViews(143)
NEW YORK (AP) — Chunky bootmaker Dr. Martens is warning of a tough year ahead.
Dr. Martens shares plunged more than 30% Tuesday after the iconic British brand forecast wholesale revenue in the U.S., its largest market, would decline by double-digits compared with last year.
Trading in Dr. Martens stock was temporarily halted on the London Stock Exchange early Tuesday as it sank to a record-low 0.64 pounds, according to FactSet.
That could translate into a sizeable hit to profits, with the company pointing to a base projected impact of 20 million pounds ($24.9 million) on pretax earnings year-over-year. In-season orders from wholesale customers could help ease U.S. revenue expectations, the company noted, but those are difficult to predict.
Previous:Devout Christian doctor, 68, who punched dementia
Next:Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
You may also like
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- Peng Liyuan Meets with DRC's First Lady
- Xi Hosts Central Asian Leaders in Historic Silk Road City for Milestone Summit
- Autumn scenery of imperial Xiaoling Mausoleum in Nanjing, E China
- Six killed in a 'foiled coup' in Congo, the army says
- In pics: Harbin, wetland paradise in NE China
- World Insights: Experts Say Xi Offers Significant Guidance for China
- Spring flowers enchant people across China
- Sweden beats France, Britain relegated after losing to Norway at hockey worlds