Dr Martens saw sales fall in its third quarter (Q3) trading update, despite reporting “good progress” with its consumer-first strategy.
The shoe retailer witnessed a 2.7% drop in group revenue year on year (YOY) on a constant currency basis for the 13 weeks ended 28 December 2025.
Dr Martens attributed the decline to a weaker direct-to-consumer (DTC) performance, as its Q3 DTC sales fell 6.5% in constant currency.
Wholesale revenue grew 9.5% over the period in constant currency, the footwear business reported.
Europe, Middle East and Africa (EMEA) sales slipped 6% YOY in constant currency, while the Americas saw 2% sales growth over the quarter.
Across the Asia and the Pacific (APAC), sales dropped 3% in constant currency.
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Looking ahead, the business said it expected sales on a constant currency basis to be broadly flat for full year (FY) 2026 as a whole, as it focused on “the quality of our revenue and profitability in order to enable us to deliver revenue growth in future years”.
It noted that it was “comfortable with market expectations for FY26 PBT (profit before tax),” which it said would “result in significant year-on-year PBT growth”.
Dr Martens CEO Ije Nwokorie said: “This is a year of pivot, as we make the necessary changes to our business to set us up for future sustainable growth.
“I remain laser focused on executing our new strategy and we will deliver all four of our strategic objectives for FY26.
“We have continued to improve the quality of our revenue through a disciplined approach to promotions and this represents a headwind to overall revenue, particularly in ecommerce.”
He continued: “We remain on track to deliver significant year-on-year growth in PBT.
“I am particularly pleased with the performance of our Americas business, with both retail and wholesale showing good growth as a result of the actions taken over the past year.
“The EMEA market continues to be challenging, with our DTC revenue performance impacted by both the market and our more disciplined promotional stance.
“We delivered a good wholesale performance, with growth broad-based across all three regions.”
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