Dr Martens says sales are in line with expectations as it continues post-Covid recovery
Footwear brand Dr Martens has said trading since the start of its new financial year is in line with expectations as it continues to recover following the ending of Covid-19 restrictions.
In a trading statement ahead of its AGM, the company also pointed out that the early months are typically the smallest period of the year, representing the tail end of the spring/summer trading period.
In the three month period, Ted Baker’s online sales were in line with the fourth quarter of the previous financial year. While its retail business continues to make a strong recovery post-Covid, the brand’s wholesale order book has increased beyond 85% of the full year level as previously disclosed.
Dr Martens said it implemented its autumn/winter price increases fully from early July and to date has opened ten new stores. It also revealed that its shipping lead times are improving steadily and that third-party factories are open and operating at 90% to 95% of planned capacity.
Last month, Dr Martens posted record revenue for the year to end March with an uplift of 18% to £908.3 million.
At the time, the brand said it had sold more pairs of boots, shoes and sandals than at any time in its 62-year history.
