The share price of the British shoe manufacturer Dr. Martens fell almost twelve percent on the London Stock Exchange on Tuesday. This came after the company released a report signed by Chief Executive Officer (CEO) Ije Nwokorie. He notes that revenue is expected to remain stable for fiscal year 2026.
This is not good news given the falling price over the past year. In the third quarter, group sales fell by 3.1 percent to 251 million British pounds. Sales since the beginning of the year amounted to 573 million British pounds (around 676.14 million euros), which corresponds to a decrease of 1.8 percent.
Wholesale sales rose 9.3 percent in the same quarter. At the same time, direct-to-consumer (DTC) sales fell by seven percent. In the Americas region, total sales grew slightly by two percent, while the EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific) regions recorded declines in direct sales of six and three percent respectively.
According to Nwokorie, the sales performance reflects the difficult market conditions and the company’s cautious advertising policy. “This created headwinds for overall revenue, which was particularly visible in e-commerce,” he notes in the report. He is referring to the new strategy that the company announced last year after initial signs of a decline in profits.
Going forward, the company expects revenue to remain nearly flat in 2026 on a constant exchange rate basis. At the same time, it focuses on profitability and sustainable long-term growth.
Dr. Martens emphasizes that the company remains focused on the quality of sales and strategic growth goals. This includes expanding into new markets and reducing reliance on sales.
Dr. Martens is a British footwear brand with sales outlets in more than 60 countries worldwide. The very first boot was made on April 1, 1960 in Wollaston, England. It was given the name ‘1460’, named after the date of production. Since then, Dr. Martens is known for its sturdy combat boots and variations of the round-toe shoe. The striking, often bright seams and the comfortable sole are characteristic. The brand has become a symbol of rebellion and self-expression in fashion and music culture.
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