Dr Martens sees full-price and DTC sales improve

The footwear retailer posted a 0.8% increase in (constant currency) revenue to £327.3m for the 26 weeks ended September 28, 2025, and said the execution of its new strategy was “on track”. 

Dr. Martens said the stronger performance was driven by “improving the quality of revenue”, with full-price DTC sales up 6% and a volume increase in shoes of 33%. 

The US was the top-performing region within the group, with revenue increasing 6% in constant currency, while EMEA dropped 3% with a  “continued subdued DTC performance against a promotional backdrop” amid its shift away from clearance to full price. APAC revenue grew 2% in constant currency, with strong sales in South Korea and a “steady performance” in Japan. 

Loss before tax improved to £9.2m constant currency, against a first-half loss of £16.6m in 2025, and it posted a reported loss before tax of £11m, versus a £28.7m loss last year. It held its adjusted profit before tax guidance range of between £53m and £60m. 

The retailer said that US tariffs represented a “high single-digit £m headwind” for FY26, with roughly half of that figure expected to be offset. 

It said in the statement: “We expect to fully mitigate the impact of increased tariffs for FY27 and beyond through continued tight cost control, flexible product sourcing, and targeted adjustments to our USA pricing policy.”

Dr. Martens chief executive Ije Nwokorie said: “As we set out in June, we’re pivoting from a channel-first to a consumer-first strategy. Our brand is strong, as evidenced by the 33% increase in shoe volumes and the successful launch of new products such as the Zebzag Laceless boot and the 1460 Rain boot. While it’s still early days, we are happy with the advances we’re making and are seeing green shoots across each of our four Levers for Growth. This strategic progress, as well as the benefits from the cost action plan delivered last year and our continued focus on cost management, is delivering a meaningful improvement in our financial performance, including a continued reduction in net bank debt.

“While the marketplace remains uncertain and consumers are cautious, and our biggest trading weeks are ahead, we are confident in our plans for the year. I am laser-focused on execution and setting the business up for growth in the coming years. I’d like to thank every member of the Dr. Martens team, as well as our partners around the world, for their continued hard work and passionate commitment in this endeavour.”