British footwear icon, Dr Martens, has reported a slump in profits, despite hitting £1bn in sales for the first time.

Dr Martens reported pre-tax profits of £159m for the year to March 31, a fall of 26% on 2022, as reported by Sky.

The brand admitted it had made several "operational mistakes", including with marketing campaigns, which focused too much on shoes and sandals, to the detriment of its boots.

Dr Martens had a 10% fall in boots sales for the year, in addition to e-commerce problems and global distribution issues, particularly with a new warehouse in Los Angeles.

Sales for the year in the US had been weak, but performance in Europe, the Middle East and Africa (EMEA) and Japan had been "very good".

It said reaching the £1bn revenue milestone is testament to the strength of its brand.