{"id":321,"date":"2025-01-27T17:05:25","date_gmt":"2025-01-27T18:05:25","guid":{"rendered":"https:\/\/metalroofingintallahassee.com\/?p=321"},"modified":"2025-02-19T16:19:03","modified_gmt":"2025-02-19T16:19:03","slug":"dr-martens-makes-progress-in-us-turnaround-plans-posts-sales-gains-in-q3","status":"publish","type":"post","link":"https:\/\/metalroofingintallahassee.com\/index.php\/2025\/01\/27\/dr-martens-makes-progress-in-us-turnaround-plans-posts-sales-gains-in-q3\/","title":{"rendered":"Dr. Martens Makes Progress in US Turnaround Plans, Posts Sales Gains in Q3"},"content":{"rendered":"

Dr. Martens\u2019 newly minted chief executive officer Ije Nwokorie<\/a> said the company has \u201cmade good progress\u201d in its objective of turning around its U.S. performance.<\/p>\n

The news comes in tandem with the UK footwear brand\u2019s third quarter trading update on Monday. According to Dr. Martens<\/a>, group revenue rose 3 percent on a constant currency basis to 267 million pounds in the third quarter of fiscal 2025.<\/p>\n

By region, the company said its Americas direct-to-consumer business was up 4 percent in the quarter, while its EMEA segment was down 5 percent which as impacted by the \u201cdeeply promotional\u201d nature of several markets, Dr. Martens said. The company\u2019s APAC direct business was up 17 percent with Japan continuing to deliver growth in the period.<\/p>\n

By channel, the company\u2019s direct-to-consumer performance was the result of e-commerce revenue growing by 2 percent on a constant currency basis and retail revenue declining by 1 percent.<\/p>\n

Wholesale revenue grew by 9 percent against a weak comparative. The wholesale performance<\/a> by region was in line with expectations, with EMEA and APAC up year-on-year and Americas wholesale down single-digit as anticipated, the company added.<\/p>\n

\u201cI am excited to be CEO of Dr. Martens,\u201d Nwokorie said on Monday. \u201cThe global relevance of our iconic brand, the strength of our product line and the passionate commitment of our team give me great confidence for fiscal year 2025 and beyond. Our Q3 trading was as expected and our outlook for fiscal year 2025 remains unchanged.\u201d<\/p>\n

Nwokorie\u2019s confidence comes as the company has been revamping its strategy in the wake of declining wholesale sales, inventory and supply chain problems in the U.S. It has also been looking to keep a lid on costs.<\/p>\n

The company has taken \u201cswift action\u201d to implement its savings plan, which is set to deliver 25 million pounds in fiscal 2026, at the top end of previous guidance, thanks to tight cost controls across the business.<\/p>\n

Looking ahead, the company said that its guidance and outlook for fiscal 2025 are unchanged and remain on track to achieve its objectives for the year, which include positive USA direct growth in the second half and net debt to decline to 310 million pounds from 330 million pounds.<\/p>\n

\u201cWe continue to actively manage our costs and are on track to meet our inventory reduction target for fiscal year 2025,\u201d Nwokorie added. \u201cThe team and I are squarely focused on returning the business to sustainable and profitable growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Dr. Martens\u2019 newly minted chief executive officer Ije Nwokorie said the company has \u201cmade good progress\u201d in its objective of turning around its U.S. performance. The news comes in tandem with the UK footwear brand\u2019s third quarter trading update on Monday. According to Dr. Martens, group revenue rose 3 percent on a constant currency basis…<\/p>\n","protected":false},"author":1,"featured_media":323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/posts\/321"}],"collection":[{"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/comments?post=321"}],"version-history":[{"count":1,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/posts\/321\/revisions"}],"predecessor-version":[{"id":322,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/posts\/321\/revisions\/322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/media\/323"}],"wp:attachment":[{"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/media?parent=321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/categories?post=321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metalroofingintallahassee.com\/index.php\/wp-json\/wp\/v2\/tags?post=321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}