Dr. Martens stock plunges after dour US revenue outlook
Release time：2024-04-30 11:07:10 Source：Global Gist news portal
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：Egyptian, Chinese students mark UN Chinese Language Day in Cairo
- Next：Trial starts in conspiracy
Related articles
- US opens investigation into Ford crashes involving Blue Cruise partially automated driving system
- Curiosity mars rover begins studying Vera Rubin Ridge
- New model reveals seabirds' movement may help analyze animal decision
- Demand from China drives U.S.' soybean trade
- Algeria hosts 23rd 'Chinese Bridge' language competition for university students
- China's courier delivering volume hits 132 billion parcels in 2023
- Hong Kong police hold open day for national security education, police force anniversary
- China sees stronger momentum for scientific and technological innovation over past five years
- Zebras get loose near highway exit, gallop into Washington community before most are corralled
- Xi Meets OCA Acting President, Expressing Confidence in Spectacular Hangzhou Asiad
- Inside Kate Middleton and Prince William's 13
- China launches new satellite for space environment survey
- China's space tracking ship Yuanwang
- Xi Meets Cambodian King
- The North London neighbourhood plagued by anti
- Xi Focus: Xi Calls for Promoting Peace, Solidarity, Inclusiveness Through Sports
- Curiosity mars rover begins studying Vera Rubin Ridge
- People visit Inner Mongolia Science and Technology Center
- The AstraZeneca vaccine 'victims': From families losing loved ones to those left with life
- Xi Sends Congratulatory Letter to Cross
Random recommendation
- Copyright © 2024 Powered by Dr. Martens stock plunges after dour US revenue outlook ,Global Gist news portal sitemap