Companies

Dr. Martens maintains full year guidance

Jul 12, 2024 United Kingdom

The UK-based footwear company has reported that trading in the first quarter was in line with expectations and that its guidance for the financial year 2025 remains unchanged

Ahead of its annual general meeting in September, Dr. Martens said that its results since the start of the financial year “have been in line with expectations”, given that the first quarter is the smallest financial year period, and its full year guidance “remains unchanged”. The company’s fiscal year will end on the 31st of March of 2025.

“The current financial year will be very second-half weighted”, detailed Dr. Martens, “particularly from a profit perspective”. Dr Martens said it is focusing on trading its upcoming 24-season autumn/winter and that it continues to target positive DTC growth in the US in the second half.

To this end, it outlined a new marketing-centric plan for the region based on three pillars, including an ‘always on’ marketing approach to iconic Dr Martens styles, a revitalisation of boots for autumn/winter 2024 and four key seasonal boot stories to drive newness.

Nevertheless, the company has previously stated that the US remains a critical region for Dr Marten because its full year wholesale revenue is expected to decline by a double-digit percentage year-on-year in 2025. In addition, Dr. Martens expects its first half revenue to decline by around 20% in fiscal 2025, as wholesale revenue is expected to decline by around a third.

Image Credits: biorigin.net

United Kingdom Dr. Martens Footwear Quarter Results Results