A weakened US performance and the generally volatile market have significantly reduced Dr Martens’s Q3 revenues. The business has reported £267.1m revenue for the quarter ended 31st December, 2023 which is a 21 per cent fall. It also says that its year-to-date revenues are down by 12 per cent to £662.9m.
CEO Kenny Wilson said: “This was driven by a weak USA performance, as expected. Trading in the quarter was volatile, and we saw a softer December in line with trends across the industry.
“Whilst the consumer environment remains challenging, we are taking action to continue to grow our iconic brand and invest in our business. We remain confident in our product pipeline for AW24 and beyond.”
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