Dr. Martens trading in line with expectations
Dr. Martens has said its trading since the start of its new financial year remains in line with expectations after it experienced strong growth in direct-to-consumer sales in both its EMEA and APAC regions.
In a statement ahead of its AGM yesterday, the footwear brand said the channel has benefited from a recovery in store footfall post-Covid and good ecommerce growth.
While Dr. Martens has performed well in Japan, revenues in the Americas have been lower year-on-year, driven by wholesale.
Meanwhile, wholesale revenues have fallen as expected following the brand’s decisions to reduce EMEA etailer supply and ease sales to a China distributor ahead of a contract end.
Looking ahead, the brand said: “Addressing our performance in this region remains our number one priority for FY24. In Americas DTC, the actions we’re taking are progressing to plan, and we continue to expect that it will take until the second half to see a meaningful improvement here.”
