Dr Martens plans price rises to offset US tariffs, shares slump
By Frank Prenesti
Date: Thursday 20 Nov 2025
(Sharecast News) - Shares in Dr Martens slumped on Thursday as the British bootmaker said it would take a multi-million pound hit from US tariffs, forcing it to raise prices in a key market.
The company said it expected tariffs to be in the high single-digit million-pound range but would be offsetting roughly half of this impact through price hikes. It had previously pledged to keep prices on hold this year but now needed to make increases from the start of 2026 on "selected products" in the US only.
Production of footwear for the US market is also being shifted from Laos to Vietnam where the tariff rate of 20% is half that levied on its neighbour.
Adjusted pre-tax losses came in at £9.2m for the six-months to September 28, compared with £16.6m last year. Americas was the best performing region with revenue up 6% with both the direct-to-consumer and wholesale channels in positive growth.
Despite the improved performance, shares in the firm were down 10% in early London trade amid a rising market.
Sales rose 0.8% on a constant currency basis to £327.3m.
The company, famed for its lace-up boots with chunky soles, said it was expecting adjusted profits in a £53m to £60m range, according to consensus forecasts and excluding the impact from tariffs.
"While the trading backdrop across our markets remains volatile, we are focused on executing our plans, growing profit and taking the right decisions for full-year 2027 and beyond," the company said on Thursday.
"Since the end of the first half, our Americas business has continued to deliver positive full price DTC growth. Our EMEA business continues to see variable trading and a particularly challenging performance in retail across our largest markets."
AJ Bell investment director Russ Mould said there were "some glimmers of hope" in the results but the market "is not blown away by the figures, and a falling share price in early trading indicates investor disappointment".
"Dr Martens is taking baby steps to put the business on a profitable path. Its turnaround efforts are underway, but this could be a slow recovery rather than a giant leap back to normality."
Reporting by Frank Prenesti for Sharecast.com
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