Dr Martens has blamed “abnormally warm weather conditions” and ongoing issues with its US business for its plummeting sales over the golden quarter.
The footwear retailer, which issued a profit warning in November, posted a 21% drop in sales to £267.1m for the three months to 31 December.
This was dragged down by wholesale revenue, which plummeted 49% over the period due to “continued caution from wholesale customers resulting in a wear order book”.
Retail sales remained flat on a reported basis and up 3% on a constant currency basis, thanks to a double-digit growth in Asia and solid growth in Europe helping to offset “declining revenue driven by continued weak footfall in the USA”.
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Ecommerce revenue declined 8%, with falling sales across all markets.
Dr Martens said its performance was in line with its full-year guidance, which it lowered in November following a “challenging” first half.
Chief executive Kenny Wilson said the steep sales drop was “driven by a weak USA performance, as expected”.
He said: “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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