Dr Martens sees boost in sales and profit in midst of high street's woes
PUBLISHED: 13:04 22 October 2018 | UPDATED: 13:35 22 October 2018
Shoe brand Dr Martens has seen a boost in sales and profit as the iconic footwear company saw increased performance in Europe.
The British company, owned by private equity firm Permira, posted a 33% rise in operating profit to £50m in the year to March 31.
Revenue rose 20% to £348.6m and like-for-like sales increased 7%.
The brand has a store in Norwich’s Castle Street.
Chairman Paul Mason said: “We’ve delivered another set of strong results with broad-based growth across all regions and channels and double-digit revenue.
“This, in the context of the wider macroeconomic uncertainty that exists in a few of our key markets, is testament to both the strength of our brand, our heritage and consumer proposition and the execution of our strategy.”
Dr Martens recently appointed the former Cath Kidston boss Kenny Wilson as chief executive, who added that the firm’s opportunity for growth is significant.