Business
Trading Statement
Trading Statement.
About this update from Dr. Martens Plc
[{"type":"text","content":"\n\n\n13 July 2023\nDr. Martens plc - AGM Trading Update\nTRADING IN LINE WITH EXPECTATIONS\n \nToday, Dr. Martens plc will hold its Annual General Meeting at 0930 at the Holiday Inn London, Camden Lock, 30 Jamestown Road, London.\nTrading since the start of this financial year has been in line with our expectations and the guidance given in our year end results announcement. As previously discussed, Q1 is the smallest period of our financial year, representing the end of spring/summer trading.\nDTC has seen very good growth in both EMEA and APAC, with continued strength in retail as traffic recovers post covid, and good ecommerce growth. As planned, wholesale revenues were lower year-on-year, across all three regions. This includes the impact of the strategic decisions to reduce EMEA etailer supply and cease sales to the China distributor ahead of the contract end.\nBy region, the shape of trading to date is as expected. EMEA is delivering a very pleasing performance and APAC has seen good growth, driven by Japan. Americas revenues were lower year-on-year, driven by wholesale, in line with our expectations. Addressing our performance in this region remains our number one priority for FY24. In Americas DTC, the actions we're taking are progressing to plan, and we continue to expect that it will take until the second half to see a meaningful improvement here.\n \n\nEnquiries\n \nInvestors and analysts \nBethany Barnes, Director of Investor Relations +44 7825 187465\n [email protected]\nBeth Callum, Senior Investor Relations Analyst [email protected]\n \nMedia &n...