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Dr Martens reports profit growth

The company currently operates 71 stores around the world.

Footwear producer Dr Martens has posted an increase in sales profits following investment into its ecommerce business and new stores. The UK-based company registered a 27 per cent boost in earnings before interest, taxes, depreciation and amortiation. This totalled £37.5 million during the year to the end of March, with revenues rising across all of its key channels. Group revenue increased by 25 per cent to £290.6 million, with sales made directly to the consumer accounting for some 38 per cent of this figure (£111.3 million). This was achieved by a 38 per cent growth in retail revenues to £78.9 million and a 54 per cent increase in ecommerce sales to £32.4 million. Sales through Dr Martens’ wholesale division grew by 16 per cent to £179.3 million.

The company is planning new store openings to boost its direct-to-consumer strategy. During 2017, Dr Martens opened 18 new stores – a 27 per cent increase in its global bricks and mortar portfolio. It now operates 71 stores around the world and also sells through 54 South Korean concessions.

Publishing Data

This article was originally published on page 2 of the December 2017 issue of SATRA Bulletin.

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