US business drags on Dr Martens as revenues take a kicking

Revenues at shoe and boot maker Dr Martens have fallen by 18% in the firm’s third quarter, as it continued to struggle with its US business.

The results were in line with the Northamptonshire company’s expectations. It has described the performance of its Americas business as “challenging” with “weak” footfall, but said that “the new Americas leadership team continue to take action, particularly in marketing execution and ecommerce trading capabilities, to drive revenue and grow the brand”.

Dr Martens, like many other retailers, said its Christmas trading performance was disappointing.

CEO Kenny Wilson added: “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.”