// Dr Martens sees strong sales in the first quarter as the retailer continues to recover post-pandemic, despite the cost-of-living hit
// Despite supply chain issues and surging costs, ecommerce sales rose by 11%, up 92% compared to 2020
Dr Martens has recorded strong sales in the first quarter, assuring shareholders its trading this year is in line with expectations.
The retailer said that ‘the early months of our financial year are typically the smallest period of the year, representing the tail end of the spring/summer trading period.”
Its online sales were in line with the fourth quarter while retail sales continued a “strong recovery”.
The boots maker sold a record numbers of shoes in 2021 and earlier this year forecast that revenue would swell in the “high teens” and despite supply chain issues and surging costs, ecommerce rose by 11%, up 92%compared to 2020 figures.
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Chief executive Kenny Wilson said: “When we listed, we committed to deliver high-teens revenue growth, and today we are pleased to report 22 per cent constant currency growth and EBITDA ahead of market expectations. Our results were achieved against unprecedented Covid-19 disruption in our supply chain, which our teams navigated with flexibility and dedication.
“Our recent comprehensive brand survey shows that our brand is stronger than ever, with significant growth in awareness, familiarity and recent purchase. Dr. Martens remains incredibly underpenetrated globally, giving us conviction in our future growth ambition”, he added.
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