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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.