Dr Martens says latest quarter met expectations

Dr Martens says latest quarter met expectations

Dr Martens issued a trading statement ahead of its annual general meeting on Thursday and it looks like business is continuing to go well. 

Dr Martens

The footwear specialist said that trading since the start of this financial year is “in line with our expectations and the guidance set out at our year-end results announcement for both the half year and the full year”. 

The early months of its financial year are typically its slowest period as they account for the tail end of the spring/summer trading season.

But over the three months, it said e-commerce was in line with Q4 FY22, while “retail continued its strong recovery and our wholesale order book has continued to increase beyond 85% of the full year level as previously disclosed”. 

That has come ahead of the brand implementing in full from early July the AW22 price increases it had flagged earlier, while its recent results have been boosted by it opening 10 new stores. 

The company also said that all of its third-party factories are open and operating at 90-95% planned capacity, while shipping lead times “continue to improve steadily”.

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