"Dr Martens has announced they have seen a fall in sales over the past quarter as the British bootmaker scaled back discounts. On Tuesday Dr Martens revealed that revenues are to broadly flat for the year, which comes at a time the company is under a major turnaround. Dr Martens said they have made "good progress" with their strategy and are on track to improve the businesses profits."
"The bootmaker are expecting a £15 million impact from currency rates, Dr Martens said they are raising their guidance of £10 million. Ije Nwokorie, chief executive of the business, 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 full-year 2026."
Dr Martens reported a fall in sales over the past quarter after reducing promotional discounts. Revenues are expected to be broadly flat for the year as the company undertakes a major turnaround. Management states the business has made good progress on strategy and is on track to improve profits. The company anticipates a £15 million impact from currency rates and has adjusted guidance by £10 million. CEO Ije Nwokorie described the year as a pivot toward sustainable growth and emphasized disciplined promotions have improved revenue quality but weighed on ecommerce sales.
Read at London Business News | Londonlovesbusiness.com
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