Dr Martens Lifts Full-Year Profit 61% to £55 Million as Shares Jump 6.5%
Updated
Updated · The Guardian · May 19
Dr Martens Lifts Full-Year Profit 61% to £55 Million as Shares Jump 6.5%
2 articles · Updated · The Guardian · May 19
£55 million in underlying pre-tax profit for the year to March 29 marked a 61% rise at Dr Martens, even as revenue slipped 2.9% to £764.9 million.
Shoe sales climbed 19%, driven by the 1461 Shoe, Adrian Tassel Loafer and Mary Jane, helping offset an 11% drop in sandals revenue.
The bootmaker said weaker sandals sales reflected a lack of new products in its SS25 range, though the ZebZag line performed well across sandals and mules.
Shares rose as much as 9% before trading up 6.5%, as investors backed a turnaround built on lower discounting, cost cuts, and reduced debt and inventory.
The result extends a recovery after the previous year's 65% profit decline, suggesting Dr Martens' push to restore margins is gaining traction despite softer sales.
With profits soaring but revenue falling, is Dr. Martens’ turnaround a sustainable strategy or a short-term fix?
As Dr. Martens cuts discounts, can the iconic brand maintain its counter-culture cool while chasing higher profits?