Dr Martens has posted a stomping set of full-year results spurred by strong sales in what chief executive Kenny Wilson heralded as a “fantastic year”.
The footwear retailer recorded a 33% increase in EBITDA year-on-year to £50m in the 12 months to March 31, bolstered by a 20% jump in group revenue to £348.6m and a 7% rise in like-for-likes.
The retailer recorded sales growth across all of its channels, with retail revenue up 23% to £97.1m, ecommerce up 35% to £43.6m and wholesale up 16% to £207.9m.
Dr Martens direct to consumer revenue also jumped 26% to £140.7m, representing 40% of its overall sales.
The footwear retailer opened 25 new stores globally during the period, nine of which were in the UK, and ended its financial year with a 94-strong store estate.
‘A fantastic year’
Chairman Paul Mason said: “This has been a fantastic year for Dr Martens. We’ve delivered another set of strong results with broad-based growth across all regions and channels and double-digit revenue and EBITDA performances.
“This, in the context of the wider macroeconomic uncertainty that exists in a few of our key markets, is testament to both the strength of our brand, our heritage and consumer proposition and the execution of our strategy.
“There is still significant scope for growth across our markets, particularly via our direct to consumer channels, and this will remain a strategic priority in the years ahead. We will continue to focus on our four strategic pillars of focusing on our product, consumer centricity, balanced global growth and operational efficiency.”
Newly appointed chief executive Kenny Wilson added: “Dr Martens has delivered another outstanding year. We are an iconic brand that does things in our own unique, disruptive way and that is unifying our consumers across the globe.
“The business’ investment in our direct to consumer channels, both in terms of retail stores and ecommerce, is bearing fruit, and these will remain priority channels for us.”