Dr Martens Q3 group revenue rises 3%
As a result, the brand stated that its guidance and outlook for FY25 remained unchanged
Dr Martens has revealed that its group revenue increased 3% on a constant currency basis to £267m during the 13 weeks ended 29 December 2024.
Alongside this, its direct-to-consumer revenue (DTC) rose by 1% on a constant currency basis.
The brand stated that this was driven by ecommerce revenue growing by 2% and retail revenue declining by 1%.
Its wholesale revenue grew by 9% , against a weak comparative, which was in line with expectations by region.
EMEA and APAC wholesale revenue was up year-on-year while Americas wholesale was down by single-digits as anticipated.
The company’s Americas DTC revenue was up 4% while EMEA DTC revenue declined by 5%.
This decline was driven by the deep promotional nature of several markets, especially in December, when the company only participated in promotional activity in line with its discounting strategy.
As a result, the brand stated that its guidance and outlook for FY25 remained unchanged.
Ije Nwokorie, CEO, said: “I am excited to be CEO of Dr. Martens. The global relevance of our iconic brand, the strength of our product line and the passionate commitment of our team give me great confidence for FY25 and beyond. Our Q3 trading was as expected and our outlook for FY25 remains unchanged.
“We have made good progress against our objective of turning around our USA performance, with USA DTC in positive growth in Q3. We continue to actively manage our costs and are on track to meet our inventory reduction target for FY25. The team and I are squarely focused on returning the business to sustainable and profitable growth.”
