Dr. Martens PLC

European stocks were subdued on Wednesday as escalating Middle East tensions overshadowed upbeat earnings results from companies including ASML Holding and Richemont. The pan-European STOXX 600 was marginally lower at 641.80 after rising 0.2 percent on Tuesday, while the German DAX dipped 0.6 percent and the UK's FTSE 100 slid 0.2 percent. ASML Holding surged over 4 percent after the Dutch chip equipment supplier lifted its annual sales forecast for the second time this year due to surging AI spending. Swiss luxury group Richemont soared 5.7 percent after reporting better-than-expected quarterly sales, helped by booming demand for its jewelry business. Other notable movers included Dr. Martens rising 1.3 percent after backing its annual outlook, Hunting jumping 5 percent on solid first-half trading, and B&M European Value Retail slumping 4.5 percent on modest first-quarter sales growth.

Dr. Martens said trading since the start of the current financial year has been in line with expectations and its outlook and guidance for fiscal 2027 are unchanged. The company noted it is on track with strategic objectives for the year, with its largest market, the USA, continuing to grow and wholesale particularly encouraging. Japan and South Korea, its largest Asian markets, are both performing well, while European markets are performing as expected against a challenging consumer backdrop.