Business
Q3 FY26 Trading Statement
Dr. Martens plc reported a Q3 Group revenue decrease of 2.7% on a constant currency basis to £253 million, with year-to-date revenue down 0.7% to £580 million, primarily due to a disciplined approach to promotions and reduced clearance activity impacting Direct to Consumer (DTC) revenue, which fell 6.5% in Q3. However, wholesale revenue showed strength, increasing 9.5% in Q3 and 4.2% year-to-date on a constant currency basis, with good growth across all regions, particularly in the Americas where DTC revenue grew 1%. The company remains on track for significant year-on-year profit before tax growth in FY26, expecting full-year revenue to be broadly flat on a constant currency basis as it prioritizes revenue quality and profitability. Disclaimer*
About this update from Dr. Martens Plc
[{"type":"text","content":"\n\n\n27 January 2026\nDr. Martens plc\nTrading statement for the 13 weeks ended 28 December 2025\n \nGOOD PROGRESS EXECUTING OUR CONSUMER-FIRST STRATEGY AND REMAIN ON TRACK FOR SIGNIFICANT PROFIT GROWTH IN FY26\n \n\"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. We remain on track to deliver significant year-on-year growth in PBT.\n \nI 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.\n \nOur people and partners work incredibly hard for our brand and I would like to thank each and every one of them for their passion and commitment.\"\n \nIje Nwokorie, Chief Executive Officer\n \nQ3 trading:\n \nThe revenue performance reflects the challenging consumer environment and our continued focus on improving the quality of our revenues by reducing clearance activity and taking a disciplined approach to promotions in Direct to Consumer (\"DTC\"), thereby increasing the full price mix.\n \n· Full price* DTC revenues up 2% YTD, with a particularly strong performance in Americas\n· Q3 Group revenue down 2.7% CC (-3.1% reported) to £253m; YTD Group revenue down 0.7% to £580m CC\n· Q3 wholesale revenue up 9.5% CC (9.3% reported); YTD wholesale revenue up 4.2% CC (3.3% reported)\n· Q3 DTC revenue down 6.5% CC (-7.0% reported); YTD DTC revenue down 3.3% CC (-4.6% reported)\n \n \nIn Americas we delivered 2% revenue growth, with DTC up 1% and wholesale up 6% (all CC), continuing the trends seen in the first half, leading to overall YTD growth of 4.5% C...