UK's Dr Martens FY26 profit jumps 61% as fewer clearance sales lift margins

Dr Martens

19/05/2026 07:11

Overview

UK footwear maker's preliminary FY26 revenue declined 2.9% as company reduced clearance activity

Adjusted pretax profit for FY26 rose 61%, driven by improved margins and cost control

Adjusted basic EPS for FY26 increased 75% yr/yr

Outlook

Dr. Martens plans further strong PBT growth in FY27, driven by operational leverage

Company expects short-term revenue headwind from executing retail strategy in FY27

Dr. Martens maintains medium-term targets for profitable revenue growth above footwear market

Result Drivers

REDUCED CLEARANCE ACTIVITY - Co said deliberate reduction in clearance and off-price sales improved quality of revenue

SHOE SALES GROWTH - Shoe revenue rose 19%, driven by new product families and iconic silhouettes

COST CONTROL & FULL PRICE MIX - Improved gross margin attributed to tight cost control and higher proportion of full-price sales

Company press release: ID:nRSS8074Ea

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
GBP 764.90 mln
FY Pretax Profit
GBP 32.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the footwear peer group is "buy"

Wall Street's median 12-month price target for Dr Martens PLC is GBp97.50, about 51.6% above its May 18 closing price of GBp64.30

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)