By Grace Bowden2019-08-13T15:37:00
Dr Martens unveiled a spike in full-year profits after direct-to-consumer sales soared. Retail Week spoke to chief executive Kenny Wilson about how he plans to run ahead of the market.
Against a backdrop of rival retailers Schuh and Office calling in advisers to slash rents – with the latter also considering closing up to half of its 100 stores – Dr Martens’ full-year results make for an uplifting read.
The iconic footwear brand recorded a 70% surge in EBITDA to £85m in the year to March 31, underpinned by a 30% jump in group revenue to £454.4m.
Direct to consumer sales spiked 42% to £199.4m during the 12-month period. Revenues raked in through its store network jumped 30% – and were up 18% on a like-for-like basis – while ecommerce sales rocketed 67% to £72.7m.
Chief executive Kenny Wilson, who joined Dr Martens last year from Cath Kidston, is confident that there is plenty more track left for the business to run.
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