In APAC, management highlighted “strong full price revenue performance,” calling out South Korea as a standout market. The company also reported solid retail performance in Japan during the Q&A portion of the call.Nwokorie pointed to a stronger performance in the Americas, saying that on a two-year stack basis the growth rate has accelerated by “almost 20 percentage points,” with gains across both retail (attributed to in-store execution) and wholesale, “particularly with our largest partners.” He added tha ...

Core Viewpoint - Dr. Martens is in the early stages of a turnaround, with the CEO expressing satisfaction with the progress made in the business [1] Financial Performance - In the first half of fiscal 2026, net revenue decreased by 0.8% to £322.0 million from £324.6 million in the same period last year, influenced by a strategy to improve revenue quality [3] - Net debt reduced to £302.3 million from £348.7 million in the first half of fiscal 2025, indicating effective cost management and strategic progress [2][3] Market Conditions - The marketplace remains uncertain, with cautious consumer behavior, yet the company is confident in its plans for the year [4] - Despite this confidence, shares of Dr. Martens fell by 13% on Thursday, reflecting shareholder concerns [4] Product Performance - Overall pairs sold decreased by 1% to 4.7 million, with direct-to-consumer (DTC) pairs down 3% and wholesale pairs up 4% [5] - Full price DTC pairs increased by 6%, aligning with the growth in full price DTC revenue [5] - Boots accounted for 50% of group revenue, shoes 30%, sandals 15%, and bags and other items 5% [5] Notable Products - The Adrian tassel loafer saw a 24% growth in pairs sold, becoming a key driver of shoe performance [6] - The iconic boots, including the 1460 boot and the 2976 Chelsea boot, experienced a decline of 17% in DTC sales and 9% overall, although they remain top-selling products [7]