Dr Martens looks to raise prices amid Trump tariffs hit
Dr Martens faces multimillion-pound hit from Trump tariffs
- Dr Martens expects to incur a multimillion-pound hit this year from US tariffs, primarily affecting its footwear manufactured in Vietnam.
- The company anticipates a 'high single digit' million-pound impact on full-year profits, with approximately half to be offset in 2025-26.
- To fully mitigate these additional tariff costs from 2026-27 onwards, Dr Martens plans to implement tight cost control, flexible product sourcing, and targeted adjustments to its USA pricing policy.
- Despite the tariff challenges, Dr Martens remains on track with its full-year forecasts for underlying pre-tax profits, which do not include the tariff impact.
- Half-year results showed Dr Martens narrowed pre-tax losses to £11 million and achieved a 0.8 per cent rise in sales on a constant currency basis.