Dr Martens PLC (LSE:DOCS) has flagged “good progress” in its turnaround after revenue ticked up on a constant currency basis during the third quarter.
Group revenue climbed by 3% to £267 million, aided by stronger American direct-to-consumer sales, the boot maker said Monday.
Dr Martens noted it was “on track” to meet a key objective of returning to positive direct-to-consumer growth across the region over the second half of the year as a result.
Asia Pacific revenue climbed in the meantime, as European sales declined on “deep promotional” activity, “especially in December”.
Group sales on a reported basis declined, however, by 3% to £260 million, though guidance was left unchanged, including for a reduction in net debt to £310 million.
“We have made good progress against our objective of turning around our USA performance,” chief executive Ije Nwokorie commented.
“We continue to actively manage our costs and are on track to meet our inventory reduction target for 2025.
“The team and I are squarely focused on returning the business to sustainable and profitable growth.”