Dr. Martens PLC (STU:3U2)

€ 0.81 0.015 (1.89%) Market Cap: 794.85 Mil Enterprise Value: 1.22 Bil PE Ratio: 23.12 PB Ratio: 1.93 GF Score: 63/100

Q3 2022 Dr Martens PLC Trading Statement Call Transcript

Jan 19, 2023 / 08:00AM GMT

Release Date Price: €1.65 (-30.08%)

Transcript

Operator

Good morning, and welcome to Dr. Martens FY 2023 Q3 trading update. My name is Harry, and I'll be coordinating your call today. (Operator Instructions)

I would now like to hand you over to Kenny Wilson, CEO, to begin. Kenny, please go ahead.

Kenny Wilson

Dr. Martens plc - CEO

Thank you very much. Good morning, everyone. And firstly, a big thank you for joining our Q3 results call at such short notice.

We've obviously accelerated this call due to a significant reduction to our FY 2023 forecast. This is something that I'm extremely disappointed about. This disappointment is even greater because a large part of our miss should have been within our control, and it is a people and process failure.

Due to a large operational challenge in our new Los Angeles distribution center and weaker-than-expected DTC trading in the United States, we now expect full-year revenue growth of 11% to 13% on an actual currency basis and full-year EBITDA between GBP250 million and GBP260 million. We are also reducing guidance for FY 2024, which Jon will

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