Dr Martens trading in line, backs FY guidance

Iconic bootmaker Dr. Martens reiterated its full-year guidance on Thursday as it said trading since the start of this financial year has been in line with its expectations.

In an update ahead of its annual general meeting, the company said the early months of the year are typically the smallest period of the year, representing the tail end of the spring/summer trading period.

In the three-month period, ecommerce was in line with the fourth quarter of the previous year, while retail continued its "strong" recovery and the wholesale order book has continued to increase beyond 85% of the full year level, as previously disclosed.

"We implemented the AW22 price increases fully from early July and to date have opened ten new stores," it said. "All our third-party factories are open and operating at 90-95% planned capacity, and shipping lead times continue to improve steadily."