Business
Dr Martens shares have been stomped

American sales of Docs have dropped

Downward DOCS

Shares in iconic British bootmaker Dr Martens had to be temporarily halted yesterday, slipping ~30% after the company tempered its sales outlook for 2025 and announced that Ije Nwokorie, an ex-Apple senior director, would take the helm in an effort to reboot the company’s slumping fortunes.

The sole issue for Docs isn’t hard to diagnose: they just aren’t selling enough shoes. Sales were down 12% in the latest quarter, with US revenues sliding 31% year-over-year, after a rough winter for the brand when fewer shoppers picked up the chunky-soled leather boots over the all-important Christmas period. Activist investors, presumably unhappy with the stock’s ~85% drop since its early 2021 peak, have also been urging the company to undertake a strategic review.

Designed as a collaboration between a pair of German doctors and a family-run British shoemaker, Docs had humble beginnings as practical work boots that sold for £2 (~$5) a pair in 1960. Within just over a decade, however, the boots had worked their way into British subcultures like the ska and punk movements and soon stomped their way to cultural icon status.

Collaborations with everyone from Warner Bros and hypebeast brand Supreme to Jean-Michel Basquiat have helped the brand stay relevant. But, the company is now also battling competition from sprawling value sites like Temu, which Docs has accused of infringing on its trademarks by manipulating Google searches to make lookalike items appear above its results.

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Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy. 

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

business

Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: smile, make eye contact, and greet or wave when a shopper comes within 10 feet — and if they get closer, within four feet, ask whether they need help or how their day is going, according to a new Bloomberg report.

Dubbed the 10-4 program internally, the rule mirrors rival Walmarts own 10-foot policy, formalizing behavior Target had previously only encouraged.

business

Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

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