FTSE 250 movers: Dr Martens strides ahead, Wizz nosedives

(Sharecast News) - FTSE 250 (MCX) 21,060.49 -0.28%

Shares in UK footwear company Dr Martens surged by 25% on Thursday as the firm said it expected 2026 earnings to be in line with guidance and would cut discounts in the Americas and EMEA regions under a turnaround plan led by new boss Ije Nwokorie.

It added that prices would remain unchanged despite the impact of US tariffs as all of its spring/summer stock was in the market, and by the start of July most autumn/winter ranges would have arrived or be in transit.

"We do however recognise that there is continued macroeconomic uncertainty and the full outcome of tariffs is still unknown, and we will monitor this closely through the year and take action as appropriate."

Adjusted pre-tax profit fell to £34.1m from £97.2m, beating analysts' consensus of £30.6m, according to a company-compiled poll. The company is guiding for earnings of £54m to £74m for fiscal 2026.

"We will reduce discounting in Americas and EMEA, across both our own ecommerce channel and through wholesale, with the aim of driving full price sales. We have a positive autumn/winter wholesale order book in EMEA and the USA order book is currently broadly in line with last year, before the benefit of any in-season re-orders," the iconic bootmaker said.

Empiric Student Property said on Thursday that it is considering a takeover proposal from student accommodation provider Unite which values each of its shares at 107p.

Responding to recent press speculation, Empiric said it received a non-binding proposal on 7 May and that following a period of engagement, it received a revised proposal on 29 May comprising 30p in cash and 0.09 new Unite shares per Empiric share.

"On the basis of the proposal, the board has agreed with Unite to enter an initial period of due diligence," it said, adding that a further announcement will be made as appropriate.

Empiric also said there can be no certainty that an offer will be made, nor as to the terms of any offer.

Under UK takeover rules, Unite has until 1700 BST on 3 July to announce a firm offer or walk away.

Chemring and Qinetiq both rose as Nato leaders met to discuss higher defence spending.

Shares in Wizz Air nosedived on Thursday as operating profits came in lower than expected with the budget carrier blaming plane groundings due to a long-running engine issue which hit capacity along with higher costs.

Operating profit slumped 61% to €167.5m for the year to March, well below the €246m expected by analysts. Shares in the carrier were down 25% in early London trade.

Hungary-based Wizz has been plagued by issues with repairs of RTX-owned Pratt and Whitney engines, severely reducing its seat capacity.

"Despite the unproductivity of a grounded fleet, we successfully delivered a second consecutive year of profitability. We have the benefit of more than a year of experience operating under these unique circumstances - conditions airlines would never experience when demand exceeds supply," said chief executive Jozsef Varadi.

The company did not provide guidance for 2026, citing limited visibility across its trading seasons.

CMC Markets was also down after annual earnings at the online trading platform missed expectations.

Market Movers

FTSE 250 - Risers

Dr. Martens (DOCS) 74.75p 24.69% Hochschild Mining (HOC) 306.00p 7.07% Empiric Student Property (ESP) 103.60p 6.47% Chemring Group (CHG) 573.00p 3.43% Hammerson (HMSO) 286.20p 3.17% QinetiQ Group (QQ.) 567.50p 2.99% Quilter (QLT) 155.30p 2.92% W.A.G Payment Solutions (WPS) 74.80p 2.75% Burberry Group (BRBY) 1,119.50p 2.47% Chrysalis Investments Limited NPV (CHRY) 102.40p 2.40%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 1,207.00p -27.90% CMC Markets (CMCX) 248.00p -12.83% Mitie Group (MTO) 140.40p -12.03% Discoverie Group (DSCV) 667.00p -8.88% THG (THG) 23.50p -7.19% Pets at Home Group (PETS) 262.80p -3.81% Paragon Banking Group (PAG) 875.00p -3.74% Energean (ENOG) 870.50p -3.65% Mobico Group (MCG) 29.32p -3.49% Greggs (GRG) 1,992.00p -3.21%