Dr Martens books 18% surge in like-for-like sales

Dr Martens full year report 18% like-for-like sales growth
Dr Martens' direct-to-consumer channels now account for 44% of its total revenue.
// Dr Martens records 18% increase in full year like-for-like sales
// Full-year revenue surged 30% to £454.4m
// Dr Martens’ EBITDA rose 70% to £85m

Dr Martens has reported double-digit growth across all its channels in its full-year report, including a significant surge in like-for-like sales.

For the financial year ending March 31, overall revenue at the iconic footwear brand increased by 30 per cent year-on-year to £454.4 million while EBITDA skyrocketed 70 per cent to £85 million.

For Dr Martens’ retail division, revenue jumped 30 per cent year-on-year to £126.7 million as like-for-like sales surged by 18 per cent.

Meanwhile, ecommerce revenue climbed 67 per cent year-on-year to £72.7 million.

Dr Martens said its direct-to-consumer channel now represents now represents 44 per cent of total revenue – up from 40 per cent in 2018.

Wholesale revenue also saw an increase, with an uplift of 23 per cent year-on-year to £255 million.

During the year, the footwear brand opened 20 new stores including eight in Europe, four in the US, six in Japan and two in Hong Kong.

Dr Martens added that 77 per cent of the full year revenue came from outside the UK.

Chief executive Kenny Wilson attributed the positive trading to the expansion of Dr Martens’ direct-to-consumer offering and operational performance improvements.

“We look forward to the year ahead, during which we expect to deliver continued strong growth and accelerate the many positive trends seen in the past year,” he said.

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