10 July 2025

Dr. Martens plc - AGM Trading Update

Trading in line with expectations; FY26 guidance unchanged

Dr. Martens plc will hold its AGM at 09.30am today at 1-11 Hawley Crescent, Camden, London, NW1 8NP, and also provides the following update.

Trading since the start of this financial year has been in line with expectations and all guidance for FY26 remains unchanged. On a regional basis, we have continued to see positive trading in our Americas Direct to Consumer ("DTC") channel, driven by full price sales, particularly in Retail. Our EMEA DTC business remains more variable, with our UK business in particular continuing to experience a challenging trading backdrop. Our APAC business continues to show good growth, with a particularly strong performance in South Korea driven by our well-established shoes category here.

Looking forward, the Autumn/Winter order books globally are healthy. The EMEA order book is up year-on-year, whilst the Americas order book is broadly in line year-on-year and importantly is based on a much wider product range than previously. As ever, our performance will be H2-weighted, particularly from a profit perspective.

We are focused on embedding our new consumer-first Levers for Growth strategy, which we outlined at our results on 5 June and which builds on the work undertaken in FY25 to stabilise the business. The strategy capitalises on the clear strengths of the business today and taps into the significant new markets and profit pools that are available to us. It is centred on engaging more consumers, driving more product purchase occasions, curating market-right distribution and simplifying the operating model. Further details on our early progress in these areas will be shared at our first half results in November.

About Dr. Martens

Founded in 1960, Dr. Martens is an iconic British brand with a global presence. "Docs" or "DMs" were originally produced for their durability for workers, before being adopted by diverse youth subcultures and associated musical movements. Today, Dr. Martens has transcended its roots while still celebrating its proud history. It operates in over 60 countries and employs over 3,650 people worldwide. Its operations are split across both Direct-to-Consumer and wholesale channels, and in addition to its world-renowned "1460" boot its product segments span shoes including the 1461 shoe and Adrian loafer, sandals including the Zebzag mule, Kids ranges, as well as a growing line of bags and accessories. Further information can be found at https://www.drmartensplc.com/