Dr Martens revenues rise in Golden Quarter thanks to online sales

Dr Martens
Dr Martens opened 11 new stores over the period, with a focus on Italy and the US
// Dr Martens revenues “in line with expectations” in the lead up to Christmas
// Direct-to-consumer sales grew 33% in the three months to December 31

Dr Martens has said revenues for the three month period to December 31 were “in line with expectations” thanks to increased online sales.

Revenues were up 11% year-on-year and 21% on a two-year basis.

The footwear specialist said direct-to-consumer sales grew 33% over the quarter, now representing 64% of the overall mix.

READ MORE: Dr Martens revenue rises 92% following Covid recovery

Dr Martens said this was largely driven by its ecommerce sales, but that it also saw strong recovery in its store revenues.

Ecommerce revenues rose 16% in the three month period, while retail sales were up 72% year-on-year with better conversion rates and higher footfall figures.

The retailer said its wholesale sales were down 14%.

Dr Martens opened 11 new stores over the period, with a focus on Italy and the US.

“We continued to put our long-term custodian approach at the heart of decision making and proactively managed the business against a changing Covid backdrop, prioritising the higher margin DTC channels in line with our strategy,” chief executive Kenny Wilson said.

“We remain confident in achieving market expectations for the full year and I would like to thank everyone at Dr. Martens for their exceptional hard work and dedication.”

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