It was first popular in the 1960s. The well-known brand said that doing business in the US has become harder lately and that two of its main wholesalers have cut back on sales.

Global earnings for the company dropped by 55% to £25.8m in the first half of the year.

Because of the profit warning, shares fell by almost 25% early Thursday.

CEO Kenny Wilson said that business had been “mixed” in the second half of the year. He said that sales were affected around the world by the better weather at the beginning of fall.

“In the USA, where there is an increasingly difficult consumer environment, our results have been more challenged, led by weakness in wholesale,” he said.

In its earnings report, the company said that a “weaker order book than in prior years” was due to Dr. Martens wholesale buyers being more cautious. However, it also said that trade had improved in recent weeks in Europe, the Middle East, and the Asia-Pacific region.