Mountain Warehouse reports surge in full year profits
Outdoor retailer Mountain Warehouse has seen its pre-tax profits increase by 14% to a record £23.7 million in the year to the end of February.
In addition, sales rose by 13% to £255 million to mark 22 years of unbroken revenue growth for the retailer. Like-for-like sales were up 5.3% in the year.
The retailer said its performance was boosted by strong demand online and by international expansion.
Mountain Warehouse founder and chief executive Mark Neale added: “I’m delighted to have delivered another set of record results, despite the obvious headwinds. It’s no secret that many retailers are finding it tough going, but our relentless focus on value – great outdoor gear for all the family at great prices – continues to hit the mark.“
The retailer opened 48 new stores in the year, 33 of which were in the UK. The 15 new stores overseas included its first two outlets in New Zealand.
Mountain Warehouse is now planning to open a further 50 branches this year, including 20 in the UK. It will also launch 10 new branches of its Neon Sheep impulse gift chain.
This year the retailer has more than doubled the size of its women’s summer range. As a result, it expects to sell over 100,000 summer dresses, over 500,000 tops and t-shirts, and 100,000 pieces of women’s swimwear.
Neale said: “It means our sales of womenswear are growing twice as fast as the overall business and I no longer need to lose sleep if the sun is shining.”
