The brand notes that revenue declines were primarily driven by weakness in the U.S. wholesale business. Wholesale revenue was down by 17% year-on-year overall to £199.4 million (US$252.1 million).

Meanwhile, retail revenue grew by 15% to £104.7 million (US$132.36 million) and e-commerce revenue was up by 3% to £91.7 million (US$115.92 million).

Revenue had a decline of 18% in North America to £147.7 million (US$186.72 million) in the period, while EMEA was up by 9% to £194.2 million (US$245.5 million) and APAC declined by 10% year-on-year to £53.9 million (US$68.13 million).

EBITDA for the period dropped by 13% year-on-year to £77.6 million (US$98.08 million) with a margin of 19.6%. Profit before tax was down by 55% to £25.8 million (US$32.6 million).

Looking forward, Dr Martens expects full year revenues to decline by high single-digital percentage year-on-year on a constant currency basis. Additionally, the company has withdrawn its expectation of revenue growth in the 2025 financial year.

CEO Kenny Wilson said: “We saw a mixed trading performance in the first half of the year. We made good progress with our strategic priorities, continuing to invest in the business and our people to drive sustainable long-term growth. During the period, we focused on controlling the controllables: we delivered significant supply chain savings, successfully transformed our North America distribution network, opened 25 new stores, and launched a Dr Martens UK repair service.

“In the U.S., where there is an increasingly difficult consumer environment, our results have been more challenged, led by weakness in wholesale. We have strengthened the Americas leadership team and they are taking action, including refocusing marketing and improving our ecommerce trading capabilities. It is likely, however, that given the challenging backdrop it will take longer to see an improvement in U.S. results than initially anticipated.”