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Mountain Warehouse defies retail gloom as sales increase 22 percent

By Vivian Hendriksz

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Business

London - Outdoor apparel retailer Mountain Warehouse has been able to defy the current retail 'doom and gloom' climate, as the privately-held company reported its 21sy consecutive year of revenue growth.

Mountain Warehouse saw its sales jump 22 percent to 225.3 million pounds in the year to February 25, 2018, as like-for-like sales were up 14 percent. Profit before tax grew 35.6 percent, up from 19.6 million pounds last year to 26.6 million pounds.

Mountain Warehouse launches new expansion plan following sales growth

The outdoor retailer's online sales grew 32 percent during the year, accounting for a quarter of its total sales. International sales rose 36.5 percent, accounting for nearly 30 percent of Mountain Warehouse's total sales.

The sales bump comes as the outdoor retailer continues to expand, having opened 25 new stores during the past financial year, creating 300 new jobs. Mountain Warehouse founder and CEO, Mark Neale, aims to continue expanding the retailer's presence over the next year.

“We are concentrating on opening more stores,” said Neale in a statement. “We do not subscribe to this ‘death of the high street’ story. We’ve found it quite difficult to find empty stores in the places where we want to open.”

Mountain Warehouse, which currently employs 3,000 people across 300 stores, aims to open 40 new stores over the next 12 months, creating 450 new jobs. Half of the stores will open abroad, the other half are set to open in the UK.

In the UK, Mountain Warehouse has been acquiring retail locations from retailers which have been closing down a number of stores and is set to take over 5 stores from fashion retailer New Look, which aims to shut 60 stores under a CVA.

Photos: Mountain Warehouse

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