Dr Martens profits soar in full-year results
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Profits and sales at footwear retailer Dr Martens continued to rise last year, EBITDA for the period soared by 70% to £85m for the year ending 31 March.
Group revenue increased by 30% to £454.4m, as the company focused on direct to consumer (DTC) channels, which now accounts for 44% (£199.4m) of total revenue.
Dr Martens also opened 20 stores across the world taking the total stores to 109, including eight across Europe (three in Germany, two in France, two in the UK and one in the Netherlands), four in the US, six in Japan and two in Hong Kong.
Results were boosted by large growth in both Americas and EMEA markets. Revenue in the Americas rose by 37% to £161.1m and EBITDA was up 78% to £33m, whilst EMEA revenue increased by 32% to £206.2m and EBITDA was up 74% to £43.4m.
Kenny Wilson, CEO of Dr. Martens, said: “This has been another outstanding year for Dr. Martens and I am incredibly proud to be leading such an iconic and authentic brand. With our relentless focus on the consumer and a mindset of continuous investment, we are committed to growing the brand for the long term while staying true to our purpose of empowering rebellious self-expression.
“By putting consumers first, accelerating our DTC expansion and improving our operational performance we have delivered double digit revenue growth in all of our key markets and strong EBITDA performance.”
A company statement added: “Trading since the year-end has remained strong, with excellent continued momentum across all channels and key markets.”
