Dr Martens targets return to growth as profits plummet
Dr Martens expects to see a return to profit growth in the next financial year as it ramps up its turnaround efforts.
Dr Martens expects to see a return to profit growth in the next financial year despite its profits falling by more than half in its latest results.
The retailer has unveiled its new ‘Levers for Growth’ strategy as it ramps up its turnaround efforts after delivering a full-year performance ahead of expectations.
The bootmaker reported an adjusted pre-tax profit of £34.1m in the year to 30 March, down from £97.2m in 2024 but above its initial guidance of £30.6m.
Group sales fell 8% to £787.6m, in line with guidance, as it cited a “challenging macroeconomic and consumer backdrop” in several core markets for the softer trading.
Dr Martens chief executive Ije Nwokorie said: “Our single focus in FY25 was to bring stability back to Dr. Martens. We have achieved this by returning our direct-to-consumer channel in the Americas back to growth, resetting our marketing approach to focus relentlessly on our products, delivering cost savings, and significantly strengthening our balance sheet.
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“We are today sharing our Levers For Growth, which will increase our opportunities by shifting the business from a channel-first to a consumer-first mindset.
Nwokorie continued: “We will give more people more reasons to buy more of our products, whether that’s our iconic boots and shoes, newer product families such as Zebzag and Buzz, or adjacent categories such as sandals, bags and leather goods.
“And we will tailor distribution to each market, blending DTC and B2B, optimising brand reach and ensuring a better use of capital.”
Looking ahead, it expects to deliver a profit within the range of £54m and £74m – potentially doubling that of FY25.
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