Dr. Martens Plc declares an interim dividend of 0.85p, being one-third of the FY24 total dividend of 2.55p. This will be paid to shareholders on the register as at 7 March 2025 with payment on 8 April 2025.
Other financial highlights include:
- Revenue down 18% (16% constant currency (CC)), in line with guidance for 20% decline. DTC revenue down 7% (5% CC) and Wholesale revenue down 29% (27%CC), as expected. Within DTC, Retail revenue was down 9% (7% CC) and ecommerce was down 4% (2% CC)
- All regions performed in line with expectations, with EMEA revenue down 16% (actual and CC), Americas revenue declining 22% (20% CC) and APAC down 12% (7% CC)
- Swift action taken to implement their cost savings plan, which will now deliver £25m in FY26, at the top end of previous guidance. Tight cost control throughout the business, with non-demand generating operating costs down year-on-year
- PBT impacted by reduced revenue, as guided, together with exceptional charges of £9.2m, largely related to their cost savings plan
- Strengthened balance sheet, with significant reduction in both inventory and net debt, in line with their plan. Inventory down £69.1m year-on-year driven by reduced purchases
- Refinance completed successfully, securing a £250.0m loan together with a £126.5m RCF
