Mountain Warehouse hails record annual revenue
Mountain Warehouse has posted record revenue in the year to 25 February with rise of 4% to £386 million.
The outdoor retailer also returned to the black with a pre-tax profit of £26.2 million compared to a loss of £1.5 million in the prior year when it was hit by incremental costs caused by Covid-19.
Store revenue climbed by 7.1% following the addition of 28 new or relocated branches in the period, including three in New Zealand, two in Canada and two in Poland. It also launched its first shops in Australia. The retailer is continuing to open new stores in the current financial year with up to 50 additional branches and relocations planned.
Mark Neale founder of Mountain Warehouse, said: “During Covid a lot of people were claiming nobody was ever going to visit stores again and their days were numbered. We never believed that, and it has proved to be wide of the mark.
“Whilst our online business had a big boost during the pandemic, we kept investing in stores and their success shows customers relish choice and the opportunity to shop how and when they want.”
Mountain Warehouse has recently been opening much larger stores in the UK, including some in retail parks, to enable the stocking of a wider range of products. The bigger shops can also include sections for ski wear and the Animal lifestyle brand, which the retailer acquired three years ago.
Neale said the acquisition has helped to weather-proof the business and strengthen trade all year round. He added: “Acquiring Animal has also helped us reach many new customers. The brand is well-loved and we’re reinvigorating it for a new generation.”
Mountain Warehouse has also diversified by launching the Mountain Warehouse Marketplace online in 2022. This has helped overall online sales to grow by 2.2% to account for almost a third of revenue, up from just under a quarter prior to the pandemic.
