Latest news with #Dr.MartensPlc
Business Insider
2 days ago
- Business
- Business Insider
RBC Capital Sticks to Its Hold Rating for Dr. Martens Plc (DOCS)
In a report released on June 6, Piral Dadhania from RBC Capital maintained a Hold rating on Dr. Martens Plc (DOCS – Research Report), with a price target of p60.00. The company's shares closed yesterday at p77.45. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Dadhania is an analyst with an average return of -5.4% and a 36.71% success rate. Dadhania covers the Consumer Cyclical sector, focusing on stocks such as Kering SA, adidas AG, and PUMA SE NPV. In addition to RBC Capital, Dr. Martens Plc also received a Hold from Barclays's Richard Taylor in a report issued yesterday. However, on June 6, Berenberg Bank maintained a Buy rating on Dr. Martens Plc (LSE: DOCS). DOCS market cap is currently £790.6M and has a P/E ratio of 174.36. Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOCS in relation to earlier this year.
Business Insider
3 days ago
- Business
- Business Insider
Barclays Sticks to Its Hold Rating for Dr. Martens Plc (DOCS)
Barclays analyst Richard Taylor maintained a Hold rating on Dr. Martens Plc (DOCS – Research Report) today and set a price target of £0.90. The company's shares closed last Friday at p81.95. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Taylor is a 4-star analyst with an average return of 6.3% and a 50.99% success rate. Taylor covers the Consumer Cyclical sector, focusing on stocks such as WH Smith, Pets at Home, and JD Sports Fashion. Dr. Martens Plc has an analyst consensus of Hold, with a price target consensus of p71.50, representing a -12.75% downside. In a report released on June 5, Morgan Stanley also maintained a Hold rating on the stock with a p70.00 price target. DOCS market cap is currently £790.6M and has a P/E ratio of 174.36. Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOCS in relation to earlier this year.
Yahoo
7 days ago
- Business
- Yahoo
Dr. Martens' Stock Soars as CEO Implements New Strategic Plan Following ‘Year of Stabilization'
Shares for Dr. Martens Plc surged nearly 24 percent on Thursday following the release of a new strategic turnaround plan in efforts to return to profit growth in fiscal 2026. According to chief executive officer Ije Nwokorie, who took the helm earlier this year, the company's 'single focus' in fiscal 2025 was to bring stability back to Dr. Martens. More from WWD Journeys Helps Genesco Deliver Q1 Sales Above Expectations Dr. Martens Looks to Adidas For New Chief Brand Officer Name Game: Shoe Carnival Is Converting More Stores to Shoe Station Banner 'We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings, and significantly strengthening our balance sheet,' Nwokorie said in a statement. In fiscal 2025, the UK-based footwear company reported that net revenue fell 10 percent to 787.6 million pounds from 877.1 million in fiscal 2024. Dr. Martens noted that the results were in-line with guidance, however, and came up against a challenging macroeconomic and consumer backdrop in several of its core markets. Net debt for the year was 249.5 million pounds, down from 359.8 million pounds in fiscal 2024. Net profit stood at 4.5 million pounds in the year to the end of March, down from 69.2 million pounds the year prior. By category, overall, pairs were down 9 percent, with DTC pairs flat and wholesale pairs down 15 percent as expected, as the company's wholesale partners normalized their inventory levels. 'We saw a very strong performance in shoes, with DTC pairs up 15 percent with particular success in our bestselling Adrian loafer, as well as in new shoe families, the Lowell and Buzz,' the company said in its latest earnings statement. 'Sandals also saw a good performance, with DTC pairs up 7 percent, and we continue to see a strong performance in our mules range, led by the Zebzag. Boots remained challenging, with DTC pairs down 9 percent, with our continuity boots weaker, as expected. This was partially offset by success in product newness, both as extensions of the core icons, for example through the Ambassador soft leather boot and through new product lines such as the Anistone biker boot.' As a proportion of fiscal year 2025 Group revenue, boots accounted for 57 percent, shoes 26 percent, sandals 12 percent and bags & other 5 percent. By channel, direct-to-consumer revenue was down 4.2 percent to 510.7 million pounds in fiscal 2025, while wholesale fell 19.5 percent to 276.9 million pounds, as expected. Within DTC, retail revenue was down 5.6 percent to 242.4 million pounds and e-commerce was down 2.9 percent to 268.3 million pounds. By region, EMEA revenue was down 11.0 percent to 384.2 million pounds for the year, which was driven by the UK. In the Americas, revenue was down 11.4 percent to 288.5 million pounds, and in APAC, revenue dipped 3.8 percent to 114.9 million pounds, with a good performance in Japan and China, the company noted. Looking closer at the Americas, Dr. Martens stated that the region delivered DTC growth in the second half of fiscal 2025 as the company pivoted its marketing to 'relentlessly focus' on product. 'With new products such as Ambassador, Anistone, Buzz and Dunnet Flower performing very strongly for us and our partners; we delivered 25 million pounds of annualized cost savings, at the top end of our target, with the full benefit in fiscal 2026; and we strengthened our balance sheet through a significant reduction in inventory and net debt, as well as the successful refinancing of the Group,' the company said. As for tariffs, the company noted that the entirety of its spring/summer 2025 stock is already in the market, and by the start of July, the majority of autumn/winter 2025 will be either in the market or in transit. 'We generate strong product gross margins, which is helpful given that tariffs are charged on cost, not retail price,' the company stated. 'We will continue to assess the situation carefully, but can confirm that for SS25 and AW25 we will be keeping average prices unchanged in the market. More broadly, we continue to manage all costs tightly, working closely with our wholesale and supplier partners.' The company also released a new strategic plan on Thursday. Dubbed 'Levers For Growth,' Dr. Martens said that the plan builds on the work undertaken in fiscal 2025 to stabilize the business. The new plan focuses on four 'levers' including engaging more consumers, driving more product purchase occasions, curating market-right distribution, and simplifying the operating model. Dr. Martens said that the new strategy capitalizes on the strengths of its business, including its 'iconic global brand, high quality products, world-class supply chain, modern technology systems, committed wholesale and distributor partners and passionate and talented team,' and taps into the significant new markets and profit pools that are available to the company. Over the medium-term, Dr. Martens said it expects to deliver sustainable, profitable revenue growth above the rate of the relevant footwear market, with operating leverage driving a mid to high-teens EBIT margin and underpinned by strong cash generation. 'Levers For Growth will increase our opportunities by shifting the business from a channel-first to a consumer-first mindset,' Nwokorie said. 'We will give more people more reasons to buy more of our products, whether that's our iconic boots and shoes, newer product families such as Zebzag and Buzz, or adjacent categories such as sandals, bags and leather goods. And we will tailor distribution to each market, blending DTC and B2B, optimizing brand reach and ensuring a better use of capital.' The CEO added that he is 'laser focused' on day-to-day execution, managing costs and maintaining the company's operational discipline while it navigates the current macroeconomic uncertainties. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
24-05-2025
- Business
- Business Insider
Dr. Martens Plc (DOCS) Receives a Hold from Goldman Sachs
Goldman Sachs analyst Louise Singlehurst maintained a Hold rating on Dr. Martens Plc (DOCS – Research Report) on May 21 and set a price target of p66.00. The company's shares closed today at p54.70. Confident Investing Starts Here: Singlehurst covers the Consumer Cyclical sector, focusing on stocks such as Ermenegildo Zegna, Prada SpA, and Birkenstock Holding plc. According to TipRanks, Singlehurst has an average return of 0.8% and a 51.47% success rate on recommended stocks. Dr. Martens Plc has an analyst consensus of Moderate Buy, with a price target consensus of p81.00, which is a 48.08% upside from current levels. In a report released on May 19, RBC Capital also maintained a Hold rating on the stock with a p60.00 price target. DOCS market cap is currently £535.4M and has a P/E ratio of 18.69. Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOCS in relation to earlier this year.
