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Dr Martens hails record full year sales

Dr Martens has posted record revenue in the year to end March when it sold more pairs of boots, shoes and sandals than at any time… View Article

FASHION

Dr Martens hails record full year sales

Dr Martens has posted record revenue in the year to end March when it sold more pairs of boots, shoes and sandals than at any time in its 62-year history.

Revenue was up 18% to £908.3 million in the period while adjusted pre-tax profit climbed by 43% to £214.3 million.

Dr Martens sold 14.1 million pairs of footwear, which marked a 1.4 million uplift on the previous year, and twice as many as four years ago.

“Our success demonstrates the strength of the Dr Martens brand and its universal and evergreen appeal to consumers of all ages and genders in markets around the world.

“We look forward to the future with confidence as we roll out our DOCS strategy in our seven key markets around the world.”

The company has also highlighted its scale of opportunity in international markets. While Dr Martens sold 32 pairs per thousand people in the established market of the UK last year, it sold 17 pairs per thousand in the US, and just four pairs per thousand in Japan.

“Our decision over recent years to take back control of Germany, Italy, and Spain – selling directly to consumers via our own stores and website – is a key part of the strategy for international growth.

“This enables us to showcase the brand in the best possible way and engage with consumers. It is also the most profitable route to market.”

In the current financial year, Dr Martens now expects to achieve high teens revenue growth. The update to previous guidance is a result of upcoming autumn price increases and expectations for volume growth remaining unchanged.

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