Dr. Martens Shares Jump as Boot Maker Posts Strong Profit Growth

Shares in Dr. Martens (LON: DOCS) have surged 5.8% on Tuesday, currently trading at around 68.1p after touching a session high of 72p, following the iconic British bootmaker’s report of a sharp rebound in profitability in its full-year preliminary results, reassuring investors that its turnaround strategy is gaining traction.

The London-listed group posted adjusted profit before tax of £55.0m for the 52 weeks ended 29 March 2026, a 61.3% jump from £34.1m the prior year, despite group revenue edging down 2.9% to £764.9m — a decline the company said was deliberate, driven by a strategic pullback on clearance and off-price sales to improve revenue quality. On a constant currency basis, revenue fell a more modest 1.4%.

Gross margin improved by 120 basis points to 66.2%, while non-marketing operating costs fell 6.0%. Net debt including leases fell to £213.5m from £249.5m. The dividend was maintained at 2.55p per share.

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Chief Executive Ije Nwokorie hailed the results as evidence the company’s “consumer-first” pivot is working, highlighting a 19% rise in shoe revenues and a 31% decline in off-price wholesale pairs in the US. The company also expanded into new markets, including Latin America, the UAE, and the Philippines.

Looking ahead, management guided for “further strong PBT growth” in FY27, underpinned by healthy wholesale order books, improved pricing and a leaner operating model — though cautioned that geopolitical uncertainty and ongoing retail strategy execution remain near-term risks.