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Dr. Martens is maintaining its outlook for fiscal 2026 as the company said on Thursday that the start of this new financial year is currently “in-line with expectations.”
In a statement issued ahead of the company’s annual general meeting, Dr. Martens noted that it has continued to see positive trading in its Americas direct-to-consumer channel, driven by full price sales, particularly in retail.
As for the EMEA region, the company noted that its DTC business remains more variable, with the UK business in particular continuing to experience a challenging trading backdrop. And in APAC, business continues to show good growth, with a particularly strong performance in South Korea driven by Dr. Martens shoes category, the company noted.
Looking forward, Dr. Martens noted that its autumn/winter order books globally are “healthy,” with the EMEA order book up year-on-year, and the Americas order book “broadly in line” year-on-year.
Looking ahead, the company said it is focused on embedding its new consumer-first “Levers for Growth” strategy, which Dr. Martens outlined in June and builds on the work undertaken in fiscal 2025 to stabilize the business.
“The strategy capitalizes on the clear strengths of the business today and taps into the significant new markets and profit pools that are available to us,” the company said in a statement. “It is centered on engaging more consumers, driving more product purchase occasions, curating market-right distribution and simplifying the operating model.”
This news comes one month after chief executive officer Ije Nwokorie, who took the helm this year, told analysts that the company’s “single focus” in fiscal 2025 was to bring stability back to Dr. Martens.
“We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings, and significantly strengthening our balance sheet,” Nwokorie said in June.
In fiscal 2025, the U.K.-based footwear company reported that net revenue fell 10 percent to 787.6 million pounds from 877.1 million pounds in fiscal 2024. Dr. Martens noted that the results were in line with guidance, however, and came up against a challenging macroeconomic and consumer backdrop in several of its core markets.
Net debt for the year was 249.5 million pounds, down from 359.8 million pounds in fiscal 2024. Net profit stood at 4.5 million pounds in the year to the end of March, down from 69.2 million pounds the year prior.
Further details on the company’s early progress will be shared in its first half results in November.
