Companies

Dr. Martens releases third quarter trading update

Feb 3, 2026 United Kingdom

The UK-based company has posted lower third-quarter revenue due to weaker demand in certain regions, but remains on track to deliver profit growth as it implements its strategic reset

“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 e-commerce, commented Ije Nwokorie, Chief Executive Officer.

Third Quarter Trading Update

In the thirteen weeks up to the 28^th of December 2025, Dr Martens’ revenue decreased by 2.7% (or 3.1% on a reported basis), as compared to the same period a year ago, totalling 253 million British pounds (292.1 million euros). Year-to-date, revenue decreased by 0.7% at constant current rates to 580 million British pounds (669.8 million euros), but full-price DTC revenues were up by 2%, with a particularly strong performance in the Americas.

In fact, in the Americas region, third quarter revenue increased by 2.2% year-on-year at constant currency rates during the third quarter, with DTC up by 1% and wholesale up by 6%. This is in line with the trends seen in the first half of the year.

Meanwhile, revenue in the EMEA region decreased by 6.0% at constant currency rates during the quarter compared to the same period a year ago amid a challenging consumer backdrop. “We saw a channel shift to our wholesale partners in Q3, who took a larger proportion of sales in the promotional season compared to our DTC channels where we took a disciplined approach to promotions, in line with our strategy”, added Dr. Martens.

Compared to the third quarter of the previous year, wholesale revenue grew by 8% in the APAC region, but this was offset by a 6% decline in DTC, resulting in an overall revenue decline of 3% at constant currency rates.

The company has announced that it is making progress with its growth strategy and remains on track to meet its objectives for the 2026 financial year. Its key areas of focus include reducing discounts on the wholesale channel in the Americas, driving volume growth in key product lines, expanding into new markets using a capital-light approach, and simplifying its operating model to enable closer engagement with consumers and local markets.

For the full year, Dr. Martens expects revenue to remain broadly flat on a constant currency basis, given the company's current focus on revenue quality and profitability. It also said it is comfortable with market expectations for FY26 profit before tax, “which will result in significant year-on-year PBT growth”.

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United Kingdom Companies Dr. Martens Footwear Quarter Results Results