Dr Martens has reported one other sharp fall in earnings following a "challenging year" for the enterprise.The struggling firm mentioned world pre-tax earnings within the 12 months to March had been £97m - a fall of just about 43% on the earlier yr. Revenue additionally dipped 12% to £877m - down from simply over £1bn in 2022/23.The British model blamed its disappointing efficiency on the US, its largest market, the place it mentioned there had been weak client demand and a 17% fall in gross sales of its boots.Kenny Wilson, who not too long ago introduced he can be stepping down as chief govt, mentioned the outcomes had been "as expected". He added: "We are clear that we need to drive demand in the USA to return to growth... and are executing a detailed plan to achieve this, ...

The house owners of Royal Mail have agreed to a £3.6bn takeover bid by Czech billionaire Daniel Kretinsky.The firm's mother or father agency International Distribution Services (IDS) stated its board of administrators had authorized the deal after a formal provide was made earlier this month. It stated the settlement included a collection of "contractual commitments" to guard public service points of the Royal Mail - akin to its common service obligation to "one-price-goes-anywhere" first-class submit six days per week.Mr Kretinsky's EP Group already owns 27.6% of the enterprise.Shareholders will vote on the deal at IDS's subsequent annual common assembly in September. It can be anticipated that the takeover will come underneath heavy scrutiny from regulators earlier than it ...