Sunday, September 19, 2021

Revenue rises at Dr. Martens

Trading was “slightly ahead” of expectations at Dr. Martens in the first quarter of its financial year.

The Northamptonshire-headquartered company delivered revenue of £147.3m, up 52% year on year (64% on a constant currency basis), according to a trading statement for the three months ended 30 June 2021.

This performance was against a Covid-19 impacted comparative figure, with revenues in the same quarter last year down 14%.

On a two-year basis, revenue was up 31% (40% constant currency).

The business noted an encouraging recovery of retail, good growth in ecommerce and a strong wholesale performance.

Kenny Wilson, Chief Executive Officer, said: “I am very pleased with the performance across our business in the first quarter of our new financial year. We achieved continued growth in ecommerce against a triple-digit growth rate last year and the reopening of our own-stores drove a strong retail recovery through the period.

“In addition, we saw a return to more normalised wholesale shipments over the period. The first quarter of the year is always our smallest period, being the end of the Spring/Summer season. Our larger Autumn/Winter season begins from Q2 and our performance to date gives us confidence for the remainder of the year.

“We will continue to take a long-term custodian mindset, investing into our business and making decisions to drive the brand for the decades to come.”

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