Dr. Martens Share Discussion Threads

[queenbreguet] 30/11/2023 15:37

17% down by close ???

[the white house] 30/11/2023 15:20

Legged in @ 88 JuneLegendary brand always in demand As a weather play apparently note Berlin now showing 14 consecutive days touching zeroOverdone

[red_star] 30/11/2023 15:03

Just jumped into docs with a little nibble. LFG!!!

[mozy123] 30/11/2023 14:37

I added some more to average down this afternoon. There is value here if they pull their socks up!

[brucie5] 30/11/2023 14:36

EI, I have no position, but always curious when a business like this falls so emphatically, while remaining a decent business and without being insolvent.

[tuna hunter] 30/11/2023 13:45

Alexei Sayle has issued a statement..

"The only thing that unites us ... Is Dr. Marten's boots"

[essentialinvestor] 30/11/2023 13:38

Brucie, I might be a bit careful here unless it's a speculative punt for a potential bounce.

It's been one excuse after the next and they have arguably aggressively opened stores, with associated lease liabilities.

I mentioned to CT previously there was a risk of a major warning on the way, which we got today.

[rogen83] 30/11/2023 13:26

Balance sheet looks fine to me, lots of headroom financing and inventory unwind a tailwind in 2024.

Management are absolutely rubbish, but they’ll get booted out probably by an activist or two.

People panicking today but if they bought in a lot higher and have done their conkers, that's understandable, psychology innit.

[brucie5] 30/11/2023 12:25

This has now fallen beyond the 80% mark; which afaic is often the point at which a falling/surviving share begins to bottom out. Equally, beneath the £1 psychological threshold the journey down can be brutal as all residual weak holders get out, for fear of worse. It's pretty much like the end of a bungee-jump; but as long as the cord itself remains intact, you still have the prospect of getting back onto your feet.

I notice quite a lot of debt (294m). Has anyone flagged up concerns about that?

Against which, this:
-------------------------------------------------------------------------------------------------------------------------

Dr. Martens plc (the Company) has distributable reserves of GBP1,312.1m.

RETURNS TO SHAREHOLDERS

Our capital allocation philosophy guides our view of returns to shareholders and usage of excess cash. The first priority for investment is into the business and we will continue to invest in a targeted manner to support long-term growth and resilience of the Group. This is mainly represented by investment into marketing, logistics, people, systems and inventory. Beyond this, our priority is to return excess cash to shareholders, through a regular dividend and, when possible, further returns.

Dividends

The Board has approved and the Company has declared an interim dividend of 1.56p per share (H1 FY23: 1.56p). The interim dividend will be paid to shareholders on the register as at 5 January 2024 with payment on 2 February 2024.

[velocytongo] 30/11/2023 11:46

Re comments about the brand in the US, DMs v popular amongst kid adults. They are expensive though. Been buying more today. The issue was that management told us it was just about getting the logistics sorted but it is about underlying demand.

[john09] 30/11/2023 11:14

My retirement fund is here because he sees value. You just need to ignore his homophobia

[brucie5] 30/11/2023 11:03

Reviewed by roland Head on Stocko this morning; with this conclusion -

hxxps://app.stockopedia.com/content/small-cap-value-report-thu-30-nov-2023-pos-wyn-at-mul-docs-981676?order=createdAt&sort=desc&mode=threaded

Roland’s view

I think that a lot will depend on H2 trading and whether Dr Martens can finally get its US operations under control and performing effectively.

Although I think this is a decent brand with a reasonably positive future, I am not tempted to try catching this falling knife at the moment. I would prefer to wait for some signs of stability and a return to growth before considering an investment.

There might be an opportunity here -- I don’t know. But given the potential risks from rising leverage and the repeated disappointments this business has delivered since its IPO, I’m going to go AMBER/RED for now.

[bookbroker] 30/11/2023 10:46

In the Far East these are big, particularly Japan, as likely made in China a logical market to penetrate.

[brucie5] 30/11/2023 10:43

Sorry - a few typos in my post, now corrected.
MRF, it's obviously difficult to argue from the particular to the general, so we shall see. Something ain't working, that's for sure. But there's surely value in the brand.

[kaffee] 30/11/2023 10:11

It's not even a brand issue... it's a quality issue. Look at some DM tear downs on Youtube. Comparison with models of yester-year show the cost cutting that is in place.

When it comes to comfort.. you don't scrimp !

[aishah] 30/11/2023 10:08

Director bought £400k worth at 129p in July. Just goes to show it's not always follow the insiders!

[salpara111] 30/11/2023 09:57

Glad I waited!

[dealy] 30/11/2023 09:50

shares were 140p a few weeks ago. surely this is overdone?

[blueball] 30/11/2023 08:23

All time low.

[bookbroker] 30/11/2023 07:27

Nasty, 70p open?