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Yahoo
10-07-2025
- Business
- Yahoo
Dr. Martens Says Its Fall Order Books Are ‘Healthy' as New Fiscal Year Starts In-Line With Expectations
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. More from WWD UK Retailer Footasylum Touts 'Standout Performance' in Fiscal 2025 Nike CEO Says Q4 Results 'Are Not Where We Want Them to Be' Amid Turnaround Push Hit by Tariffs, U.S. Furniture-maker MillerKnoll Swings to Net Loss in Fiscal 2025 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. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Fibre2Fashion
09-06-2025
- Business
- Fibre2Fashion
UK' Dr. Martens aims for FY26 turnaround after tough FY25
Dr. Martens plc has reported preliminary results for the 52 weeks ended March 30, 2025, showing group revenue down 10 per cent to £787.6 million (~$1.071 billion) amid a challenging macroeconomic backdrop. Adjusted profit before tax fell to £34.1 million (~$46.4 million) from £97.2 million (~$132.2 million), while reported profit sank to £8.8 million (~$12 million). Dr Martens has reported a 10 per cent revenue drop to $1.071 billion for FY25 in its preliminary results, with adjusted profit before tax falling to $46.4 million. Despite the decline, it met key goals including DTC growth in the Americas, $34 million in cost savings, and a stronger balance sheet. Its new strategy, Levers For Growth, targets profit recovery in FY26. Despite the decline, the company delivered on all four of its fiscal 2025 (FY25) objectives, including returning the Americas direct-to-consumer channel to growth in H2, refocusing its marketing on products, achieving £25 million (~$34 million) in cost savings, and strengthening its balance sheet ahead of schedule. Net debt fell sharply to £94.1 million (~$127.9 million) excluding leases, the company said in a financial release. "Our single focus in FY25 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,' said Ije Nwokorie, chief executive officer. Dr. Martens also unveiled its updated strategy, Levers For Growth, focused on four pillars: engaging more consumers, increasing purchase occasions, refining distribution, and simplifying operations. A final dividend of 1.70p has been proposed, bringing the full-year payout to 2.55p. 'We are today sharing our Levers For Growth, which will increase our opportunities by shifting the business from a channel-first to a consumer-first mindset. We will give more people more reasons to buy more of our products, whether that's our iconic boots and shoes, newer product families such as Zebzag and Buzz, or adjacent categories such as sandals, bags and leather goods. And we will tailor distribution to each market, blending DTC and B2B, optimising brand reach and ensuring a better use of capital,' Ije added. Fibre2Fashion News Desk (HU)
