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Dr. Martens shares plunge 30% to all-time low, trading briefly halted on weak outlook

·1 min

Shares of a well-known shoemaker experienced a significant decline on Tuesday, reaching a record low due to a challenging 2025 outlook. The company temporarily suspended trading on the London Stock Exchange after issuing an unscheduled trading update. CEO Kenny Wilson, who will step down in March 2025, mentioned that weaker revenues have resulted in significant deleverage through to earnings. Chief Brand Officer Ije Nwokorie is set to replace Wilson. Analysts have flagged a negative sentiment on the stock, with focus on the 2025 guidance in the short term.