In a new trading statement for its third quarter, Dr. Martens have revealed an expected dip in EBITDA for the full year, of £16-25m, as a result of significant operational issues at its new LA distribution centre.
It comes as total revenue in the quarter to 31 December 2022 grew 9% to £335.9m, which the Northants firm said was below expectations.
Kenny Wilson, Chief Executive Officer, said: “Demand for Dr. Martens remained resilient through challenging conditions during our peak trading period of Q3.
“However, due to a combination of significant operational issues creating a bottleneck at our new LA distribution centre and weaker than anticipated US DTC trading, in part due to unseasonably warm weather, we now expect full year revenue growth of 11-13% on an actual currency basis and full year EBITDA to be between £250m and £260m.”
