Dr Martens comfortable as first quarter met expectations

Dr Martens (LSE:DOCS) shares traded positively, up around 3% on Thursday, as it confirmed its first quarter had met expectations – with management focusing on cost-cutting and pushing for greater ‘direct-to-consumer’ selling.

The comments came this morning, in a brief statement ahead of today’s AGM.

The company expects financial results to be heavily weighted towards the second half of the year, noting that Q1 is the boot maker’s ‘smallest’ period of the financial year.

It highlighted that it is focusing on the upcoming autumn/winter 2024 season and is implementing detailed trading plans.

A key focus is on achieving positive direct-to-customer growth in the US. Meanwhile, more broadly, cost action plans are ongoing - with the company promising a more detailed update when it reports on its first half, in November.

In London, the share was up 2.25p or 3.05% closing the session at 75.90p.