Sparks commentary

Consumer

Sparks

Dr Martens (LSE: DOCS) – H125 results in line with expectations
Published by Russell Pointon

H125 was a tough period for Dr Martens, with a constant currency revenue decline of 16% (versus guidance of a 20% decline) and an adjusted EBIT loss of £4.3m versus a profit of c £40m in H124. FY25 is viewed as a year of transition and guidance is unchanged, which includes US direct to consumer returning to growth in H225 and US wholesale revenue declining by double digits for the year. Management points to encouraging trading, with all thee regions positive, albeit the peak weeks of trading are ahead. It has also indicated that its cost savings plan will deliver savings of £25m, at the top end of prior expectations.

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