Dr Martens wholesale revenues continue to decline in Q1
However, during the retailer’s first quarter, it saw “very good” growth in both EMEA and APAC due to continued strength in retail as footfall recovered post covid
Dr Martens has reported that since the start of this financial year, its wholesale revenues have been lower year-on-year across all regions, which the group stated has been in line with expectations.
This also included the impact of the strategic decision to reduce EMEA online retailer supplies and cease sales to the China distributor ahead of the contract end.
However, during the retailer’s first quarter, it saw “very good” growth in both EMEA and APAC due to continued strength in retail as footfall recovered post covid.
According to the group, trading in EMEA is delivering “a very pleasing performance”, while revenues in the Americas were lower year-on-year, which Dr Martens maintains is in line with expectations.
As revenues remain low in the US, the group will aim to address this issue as a “number one priority” in FY24.
Dr Martens will announce its first half results on 30 November 2023.
