Dr. Martens has started its new financial year with trading in line with expectations.
The Northamptonshire shoe brand has seen “very good growth” in both EMEA and APAC, with “continued strength in retail as traffic recovers post covid,” and good ecommerce growth.
Wholesale revenues, however, were lower year-on-year. Dr. Martens said this includes the impact of the strategic decisions to reduce EMEA etailer supply and cease sales to the China distributor ahead of the contract end.
Meanwhile, Americas revenues were lower year-on-year, driven by wholesale, in line with expectations. The company noted: “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.”
