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Dr. Martens - Net debt will be just £30m by the year end

July 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DOCS
  • Price:
  • 75p
The bottom seems to be in for bootmaker Dr. Martens (DOCS; 75p), which has announced results for the year ending March and set its sights on a return to profit growth by FY26. New CEO Ije Nwokorie seems to have achieved key targets of returning Americas DTC to growth (achieved in H2 with continued momentum in the new year) and  £25m of annualised cost savings (the top end of guidance). FY25 total sales fell 8% to £787.6m driven largely by a 19.5% reduction in wholesale revenues together with a decline in DTC revenue of 4.2%. Pretax profit of £34.1m was c.£2m ahead of consensus, for EPS of 2.4p. A further eye-opener is the reduction in net debt to £94.1m - arising from a massive c.£67m reduction in stock to £187m (c.£30m mor ...

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