Not least due to weak business in the USA and in wholesale, the British shoe supplier Dr. Martens Plc will suffer significant losses in sales in the third quarter of the 2023/24 financial year. This emerges from an interim statement that the company published on Thursday.
Accordingly, sales in the period from October to December amounted to 267.1 million British pounds (312.1 million euros), which corresponded to a decrease of 21 percent compared to the same quarter of the previous year. Adjusted for exchange rate changes, revenue fell by 18 percent. In the company’s own retail business, sales fell by five percent (-3 percent in constant currency), while in the wholesale business they fell by 49 percent (-46 percent in constant currency).
Revenues fell short of the previous year’s level in all market regions. In the EMEA region, which includes Europe, the Middle East and Africa, they fell by 15 percent (-15 percent at constant currencies), in the Asia-Pacific region by eight percent (-1 percent at constant currencies) and in the Americas by as much as 31 percent (at constant currencies). -26 percent).
In the first nine months of the current financial year, sales were 662.9 million British pounds, twelve percent (-10 percent adjusted for currency effects) below the corresponding figure for the previous year.
The company emphasized that the current results were in line with the forecasts updated in November and reiterated its outlook for the full year. Management therefore continues to expect a currency-adjusted decline in sales of a high single-digit percentage for 2023/24.