Dr Martens has posted a spike in profits in sales as investment into new stores and its ecommerce business bore fruit.
The footwear retailer and brand enjoyed a 27% jump in EBITDA to £37.5m during the year to March 31, as revenues rose across all of its key channels.
Group revenues increased 25% to £290.6m, with sales made direct to consumer now accounting for 38.3% of that total.
Direct-to-consumer sales surged 42% to £111.3m, driven by a 38% uplift in retail revenues to £78.9m and a 54% hike in ecommerce sales to £32.4m.
Dr Martens wholesale division continues to make up the bulk of its sales after the division grew 16% to £179.3m.
But the iconic footwear business is planning further store openings as it ramps up plans to grow its direct-to-consumer arm.
During the year, Dr Martens opened 18 new stores across its core markets, representing a 27% increase in its global bricks and mortar portfolio.
It now operates 71 stores worldwide, as well as 54 concessions in South Korea.
Dr Martens chairman Paul Mason, who has temporarily taken charge of the business following the departure of chief executive Steve Murray earlier this month, said: “Despite a challenging retail environment, we have delivered double-digit growth across all areas of the business and continue to see the investments in our people, structure and operations as an integral part of our aim to deliver long-term sustainable growth.”
Mason added: “As we enter the next phase of our history, we are well placed to deliver on our strategic priorities, and achieve sustainable, global growth.”
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