Dr Martens, the British clothing and footwear retailer, saw its Q1 revenue surge by 52 per cent to clock £147.3 million.
What’s notable is that the revenue growth was 31 per cent, when compared to the first quarter of 2019.
The retailer attributed the good numbers to its strong sales performance in the Americas, in addition to a more normalised wholesale shipments.
The revenue rose by a whopping 106 per cent in the Americas, which was largely due to increase in wholesale sales.
Notably, the fashion retailer posted a year-over-year (Y-o-Y) increase of 50 per cent in wholesale during the first quarter that ended 30 June 2021.
The retailer, however, added that wholesale figures were skewed because in the Q1, 2020, a majority of wholesale consumers had to reschedule their orders due to the pandemic.
Country-wise, the retailer saw its revenue in Europe, the Middle East and Africa jump by 30 per cent Y-o-Y. The increase was 17 per cent in the Asia-Pacific region during the quarter.
The Asia-Pacific numbers were impacted due to retailer’s not-so-good performance in Japan, where coronavirus cases have been rising lately. Japan remains Dr Martens’ largest market in the Asia-Pacific region.
Despite all challenges, the retailer hopes to perform very well for the full 2022 financial year.
Founded in 1947, Dr Martens, besides footwear and apparels, is also known for bags and fashion accessories. It generated £672.2 million in 2020.