Record quarter for Dr Martens as firm makes strides towards best-ever year
Northants boot and shoes maker Dr Martens has recorded record third quarter results which it says puts it on course for its best-ever year.
Revenues at the iconic brand rose by 11% to £307m for the three months to the end of last year, with e-commerce accounting for 39% of all Q3 sales, 85% higher than the same quarter in 2019.
Dr Martens opened 11 new stores opened during the period, including two in Italy and four in the US, taking the total to 158 worldwide.
CEO Kenny Wilson said: “We delivered a good performance during our largest quarter, with direct to consumer (DTC) revenues growing 33% versus Q3 last year to 64% revenue mix. We continued to put our long-term custodian approach at the heart of decision making and proactively managed the business against a changing Covid backdrop, prioritising the higher margin DTC channels in line with our strategy. We remain confident in achieving market expectations for the full year and I would like to thank everyone at Dr Martens for their exceptional hard work and dedication.”