Dr Martens PLC (LSE:DOCS) has published a short trading update prior to its Thursday annual meeting, which showed trading had stabilised after a recent sharp drop off.
The classic British footwear company said that its performance since the start of this financial year "has been in line with expectations and our guidance for (financial 2025) remains unchanged”.
The first quarter is typically “the smallest period of our financial year, representing the end of the Spring/Summer season”, said the group, adding that the current financial year will be weighted to the second half.
“The upcoming Autumn/Winter 24 season remains a key focus,” said Dr Martens, with detailed trading plans currently being implemented.
Dr Martens is targeting target positive direct-to-customer growth in the US in the second half of the current financial year.
“Work on our cost action plan is ongoing and we will provide a detailed update at our first half results in November.”
Shares were up 1.6% in opening exchanges.