The action of the famous British shoe brand Dr Martens jumped on the London Stock Exchange on Wednesday after the publication of fivefold annual results and an optimistic outlook (AFP/Archives/Ben STANSALL)
The action of the famous British shoe brand Dr Martens jumped on the London Stock Exchange on Wednesday after the publication of annual results quintupled and optimistic outlook.
The title took 25% to 269.80 pence around 10:00 GMT.
Profit after tax was 181.2 million pounds and sales were 908.3 million (+18%) for the year ended March 31, driven by Europe and America – with Asia however down – with a total of 14 million pairs sold.
The group anticipates growth of the same order for the current financial year, with an inflation of costs which will be passed on to the selling prices.
The action of the famous British shoe brand Dr Martens jumped on the London Stock Exchange on Wednesday after the publication of fivefold annual results and an optimistic outlook (AFP/Archives/Ben STANSALL)
The famous orthopedic shoe with thick rubber soles, originally used by construction workers before becoming a cross-generational fashion accessory, opened 24 stores last fiscal year and plans to accelerate openings for the current one, especially in the United States.
Dr. Martens (pronounced Doc Martens, editor’s note), a brand founded in 1960 and inseparable from the punk movement, now focuses on direct sales to consumers, especially online, in order to be less dependent on retailers who still represent the majority of results. .
Online sales are thus expected to increase sharply (+40% at least).
The brand “still resonates with people and customer loyalty could be a blessing as households tighten their purse strings,” said AJ Bell analyst Russ Mould.
In the environment of high inflation and consumer budget pressures, “it is impressive to see companies like Dr. Martens accelerating their growth plans, although it should be noted” that the stock remains below its level of IPO, he adds.
The stock was floated on the stock exchange at 370 pence in January 2021.
The company is headquartered in central England, on the site of the original factory, but the majority of production now comes from Asia.
© 2022 AFP
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