Dr Martens to direct focus on Americas following lower revenues

Footwear specialist Dr Martens has said that it will be turning its attention toward the Americas region after it experienced lower year-on-year revenues for the first quarter of the year.

During its annual general meeting, the company did note that this financial year had fallen in line with its expectations and guidance given in its year end results announcements.

It added that, as previously mentioned, Q1 was the smallest period of its financial year, and represented the end of spring/summer trading.

Direct-to-consumer had seen good growth in EMEA and APAC, as retail traffic began to recover post-Covid and e-commerce continued to strengthen.

Meanwhile, Dr Martens’ wholesale revenues took a hit across all three regions, as it anticipated, impacted largely by decisions to reduce EMEA e-tailer supply and cease sales to its Chinese distributor ahead of its ending contract.

In contrast to the Americas, however, the company reported pleasing performance and good growth in both EMEA and APAC, driven by Japan.

With regards to its performance in the Americas, Dr Martins said: “Addressing our performance in this region remains our number one priority for FY24.

“In Americas DTC, the actions we're taking are progressing to plan, and we continue to expect that it will take until the second half to see a meaningful improvement here.”