Dr Martens boots out Covid doom as online sales boom

dr_martensDr Martens is continuing to stomp all over its rivals in the footwear market after seeing yet another online sales surge, up nearly 50% in the year to June and a doubling of profits.

In the year to March 31, the retailer saw revenue rise to £672.2m, with direct-to-consumer businesses accounting for £301.6m, while operating profit surged 110% to £142.5m.

Chief executive Kenny Wilson hailed the period as a year of “exceptional growth”, adding that he was confident of the outlook for the business despite the coronavirus pandemic which forced it to temporarily close its stores towards the end of the financial year as Covid struck.

However, the firm has since reopened almost all stores and even repaid furlough payments it had claimed under the Government’s job retention scheme for its retail and manufacturing staff between March and June.

The footwear firm has opened 16 new stores, taking its total to 122 during the year. It saw strong growth in the US, where five of the new stores opened, and the group also tested out branded areas in department stores.

While the original eight-holed boot remains a best-seller, sales of sandals soared more than 50% during the year.

Wilson added: “The last few months have been a very challenging time for everyone and I am extremely proud of the resilience and commitment our teams have shown, which has enabled us to continue delivering for our customers throughout the pandemic.

“Our performance demonstrates the resilience and strength of our brand at a time of great uncertainty.

“Looking ahead, while we are currently in a volatile and uncertain trading environment, we have a very clear strategy in place supported by a strong brand and consumer connections, and I am confident in the outlook for the business.

Earlier this year,  the brand, which still prides itself on its renegade heritage, launched the  latest iteration of its “Tough as You” ad campaign for spring and summer 2020 designed to ensure Dr Martens’ rebel yell is as loud as ever.

Related stories
Dr Martens ‘Tough as You’: This rebellion isn’t extinct
Dr Martens kicks off ‘Tough as You’ worldwide ad blitz
Dr Martens online sales surge gives rivals a good kicking

Print Friendly