Dr. Martens hails ‘fantastic’ year
Footwear retailer Dr. Martens has achieved double digit sales and EBITDA growth in what it described as a fantastic year.
In the 12 months to 31 March, group revenue was up 20% to £348.6 million while EBITDA climbed by 33% to £50 million. Meanwhile, like-for-like retail revenue rose by 7%.
Looking at the retailer’s various channels, direct to consumer revenue climbed by 26% to £140.7 million. This included a 23% uplift in retail revenue to £97.1 million and a 35% rise in ecommerce revenue to £43.6 million. Wholesale revenue increased by 16% to £207.9 million.
During the period, Dr. Martens continued to invest in its global store portfolio by opening 25 new stores in key locations. These included nine shops in the UK, seven across continental Europe, three in New York and three in Japan. At the year-end, the retailer had a total of 94 stores.
It also re-launched the brand in China with new online and offline partners.
Paul Mason, chairman of Dr. Martens, said: “This has been a fantastic year for Dr. Martens. We’ve delivered another set of strong results with broad-based growth across all regions and channels and double-digit revenue and EBITDA performances. This, in the context of the wider macroeconomic uncertainty that exists in a few of our key markets, is testament to both the strength of our brand, our heritage and consumer proposition and the execution of our strategy.”
The company said there was still significant scope for growth, particularly via its direct to consumer channels, and that this would remain a strategic priority in the years ahead.
Kenny Wilson, Dr. Martens recently appointed chief executive, said: “Dr. Martens has delivered another outstanding year. We are an iconic brand that does things in our own unique, disruptive way and that is unifying our consumers across the globe. The business’s investment in our DTC channels, both in terms of retail stores and ecommerce, is bearing fruit and these will remain priority channels for us.”
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