Dr Martens hails turnaround strategy as it returns to profit growth

For the 2026 financial year, the retailer reported a 61.3% jump in adjusted profit before tax to £55m, a 271.6% increase in profit before tax to £32.7m and a 30.6% jump in adjusted EBIT to £79.3m.

Revenues for the period slipped 2.9% to £764.9m.

The retailer also announced this morning a sale of 10 million shares to “be held on an unallocated basis for use in satisfying both current and future awards under the company’s employee share plans from time to time”.

Dr Martens said that it either met or exceeded all of its strategic objectives for FY26 as part of its Levers for Growth strategy, growing and diversifying its product ranges, opened in new markets in Latin America, the UAE and the Philippines, and simplified its operating model.

It added that in FY27 it will “enter the scale phase of the strategy” that will see increased brand investment and a change to its store strategy “centred on moving from a transactional one-size-fits-all model to a tiered real estate that repositions retail as a growth engine, with investment in high potential stores”.

Chief executive Ije Nwokorie said: “In FY26 we returned the business to profit growth, delivering a 61% increase in adjusted PBT, with revenue in line with guidance, and made good progress pivoting the business to a consumer‑first operating model. Shoes were the standout performer, up 19%. Our focus on execution is paying off: we are improving the quality of revenues whilst strengthening margins, cash generation, the Balance Sheet and overall model resilience.

“There is still work to do in pivoting the business, however, in FY27 we will also enter the scale phase of our strategy. Desire for the Dr Martens brand continues to grow, with more collaborators approaching us, increased wholesale partner support, strong consumer response to new product families, and an excited reaction from the market to our first beacon store on Brewer Street, London.

“In FY27, we will lean in with increased investment in the brand and targeted retail store upgrades, as well as continuing to build strong wholesale partner relationships to support demand at scale. With the operating model reset, key capabilities in place, combined with good visibility of our wholesale order books, our business is now well setup to deliver both our FY27 objectives and medium‑term targets.”