Berenberg flags Dr. Martens gross margin at 66% to support recovery

1307 GMT - Dr. Martens' profit recovery is expected to continue based on moderate top-line growth and operational leverage, Berenberg analysts write. They add that the British footwear company's gross margin of 66% should support profit recovery and cash flow generation. "Over the coming years, we expect strong profit drop-through from moderate revenue growth, which could build the EBIT margin up to management's medium-term 'mid-to high-teens' target," they say. Berenberg has a buy rating on the stock and 110 pence target price. Shares are up 0.9% at 68.40 pence, but down 11% over the year to date. (ian.walker@wsj.com) (END) Dow Jones Newswires October 09, 2026 09:07 ET (13:07 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.