Dr Martens has seen its share price increase by 18% in early trading, despite its annual profit before tax falling by over 90% to £8.8m in the year to 30 March.

In its 2025 financial year, the British footwear and clothing brand said its single focus was to "bring stability back".

In this period, its revenue fell by 10% to £787.6m, which was in line with guidance, after the firm operated in a "challenging macroeconomic and consumer backdrop" across a number of its core markets, it said.

However, Dr Martens was able to reduce its net debt in the year to 30 March by over 30% to £249.5m, following an inventory reduction.

Chief executive officer at Dr Martens, Ije Nwokorie, said: "Our single focus in FY25 was to bring stability back to Dr Martens. We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings, and significantly strengthening our balance sheet."

As part of its full-year results, Dr Martens launched its Levers For Growth strategic update, which looks to build on its stabilising work in the 2025 financial year.

In this update, the firm addressed tariffs imposed by the US, stating that while the country is an important market for the brand, the firm’s reach covers more than 60 counties around the world.

As a result, Dr Martens will "assess the situation carefully" but will keep average prices in the upcoming periods unchanged in the market, it added.

Head of money and markets at Hargreaves Lansdown, Susannah Streeter, said: "The iconic footwear company had been finding it hard going, stomping new fashion ground overseas, but there are now signs that it is pulling itself up by its bootstraps in the US, its biggest market.

"Efforts to stabilise operations have paid off, as it returned to growth in the direct-to-consumer market in the second half of the year and revenues have continued to tick up. But it’s still on the backfoot in the UK, with cautious shoppers far less inclined to splash cash on new styles, however iconic the brand.

"Nevertheless, there are tentative hopes that Dr Martens’ plan to reduce discounting, keep a tight rein on costs and keep prices unchanged will mean pre-tax profits for 2026 will stay within target. It’s trying to get the balance right between its classic boot range and new innovations in the consumer market."

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