Dr Martens has seen a partial recovery in sales over the festive period as the footwear retailer new chief said the business is making “progress.”
Dr Martens listed on the London Stock Exchange in 2021 and has issued a flurry of profit warnings then the company replaced their chief executive.
In the three months to 29 December the footwear retailer stemmed some of the losses over the festive period.
Turnover fell 3% compared to the same period the year before, however this did ease from a 18% slump the previous quarter.
Sales in the US has seen declines and the new chief executive Ije Nwokorie said the company is making “good progress.”
Overall turnover for the full year is expected to be down 9% compared to £599 million the previous year.
Nwokorie said he has “great confidence” for the year and added there are place to reduce excess stock which is “on track” and the continue to “actively manage our costs.”
He said, “The team and I are squarely focused on returning the business to sustainable and profitable growth.”
