Dr Martens trading in line with expectations as Covid recovery continues

Dr Martens shares were up 0.1% to 240.8p in late afternoon trading after the footwear company reported its trading was in line with market expectations.

The firm announced in its Q1 2023 trading update that Ecommerce was in line with Q4 2022, with a continued recovery in retail.

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Dr Martens mentioned an increase over 85% of the FY financial term in its wholesale order book.

The company also noted the implementation of its AW22 price rises from early July, alongside the opening of 10 new stores over the period.

Dr Martens confirmed its third-party factories were open and operating at 90% to 95% planned capacity, along with a reported steady improvement in shipping lead times.

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