Dr Martens PLC (LSE:DOCS) reported a decline in sales in the past quarter but said it is still on track to deliver "significant profit growth" in the current financial year.
Revenues fell 3.1% to £253 million in the bootmaker's third quarter, worse than the 0.8% seen in the first half of the fiscal year.
Direct-to-consumer (DTC) retail sales fell 6.5% after a flat first half, though wholesale revenue rose by 9.5%.
Full-price DTC revenue was up 2% year-to-date, reflecting management's deliberate strategy to reduce discounting and improve revenue quality. However, this was down from 6% growth in the first half.
For the full year, the company expects revenue to be broadly flat on a constant currency basis but reiterated its guidance for significant year-on-year growth in profit before tax, saying it is "comfortable with market expectations".
Chief executive officer Ije Nwokorie said: “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.”
In the Americas, revenue grew 2% in the third quarter, while EMEA revenue declined 6%, with a 12% fall in DTC. In the Asia Pacific region, revenue dropped 3%, as DTC declined 6%.