Dr Martens marches on with strong sales but listing dents profits

Dr Martens marches on with strong sales but listing dents profits
The footwear retailer saw sales up 15%, with strong growth in its online business.

Footwear business Dr Martens has enjoyed soaring sales despite the global pandemic leaving many of its customers stuck indoors, the company has revealed.

销售量 在里面 12 months to March 31 jumped 15% to £773 million, with strong growth in its online business.

But pre-tax profits took a heavy hit – down 30% to £70.9 million – due to costs of £80.5 million associated with the retailer’s stock market listing in January.

The majority of the initial public offering (IPO) costs were due to a £49.1 million bonus paid out to staff.

Dr Martens did not give figures for each country in which it trades, but said sales in 欧洲 玫瑰 17%, with the same levels of growth in North and South America.

In the Asia-Pacific region sales grew just 7% due to slower growth in 日本 the company’s largest market in the area, due to it having a higher number of stores there. They were closed due to the pandemic for large parts of the year.

Another major market in the region – 中国 – saw revenues up 46%.

The majority of Dr Martens’ global growth came from online sales, where revenues from its website were up 73% – meaning its e-commerce business now accounts for 30% of all sales.

通过对比, sales in physical stores were down 40% to £99.7 million.

The company’s wholesale business saw growth of 18% to £437.9 million as it focused on having fewer relationships but with “quality partners”.

This saw strong growth from online-only retailers which sell Dr Martens products and “robust trading” in the US.

在英国, the company shut down three stores, 离开 34 总共, but said trading was strong enough to be able to pay back £1.3 million claimed under the Government’s furlough scheme.