Dr Martens yet to see cost of living crisis hit as revenue jumps
Dr Martens is yet to see the impacts of the cost of living crisis in the UK, as it keeps its outlook firmly in place.
The footwear retailer enjoyed a revenue jump of 13 per cent to £418.6m in the six months to the end of September.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) was in line with the first half of last year at £88.8m, as the company increased investment in new stores, marketing and staff.
With the cost of living crisis failing to curtail the demand for new shoes, the board has proposed an interim dividend of 1.56p, up nearly a third in comparison with the last pay out to shareholders.
“We have further pricing headroom for AW23 so we will offset cost inflation once again,” CEO Kenny Wilson said.
“Although there are economic challenges ahead, we are well positioned for future growth. We will continue to drive growth investment to deliver the DOCS strategy, mainly in new stores, marketing, people, technology and inventory.”