Annual sales at Mountain Warehouse climbed 14 per cent to £255 million in the 12 months to the end of February, marking 22 years of unbroken revenue growth. Pre-tax profits increased 14 per cent to a record £23.7 million, boosted by strong demand online and the groups growing international footprint.
The group, which started with a single store in 1997, also opened almost 50 more branches, creating more than 500 jobs. Amongst the 33 new openings in the UK were stores in St Andrews, Sheffield and London. It also opened a further 15 outlets overseas, including the first two in New Zealand, taking its international footprint to 87 stores in eight countries.
While many retailers are closing stores, the group plans to open a further 50 branches of Mountain Warehouse this year, creating 550 jobs. The new stores will include around 20 in the UK as well as more in Europe, North America and New Zealand. In addition, the group will open 10 more branches of Neon Sheep, its quirky, impulse gift chain, doubling the size of the flock. The chain expects to open more stores outside London this year in towns such as St Albans, Leeds and Abergavenny.
Founder and CEO Mark Neale said: Im delighted to have delivered another set of record results, despite the obvious headwinds. Its 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 results also owe much to the terrific efforts of our 3,500 people and the work that we continue doing to diversify and weather-proof the business.
This year we have more than doubled the size of our womens summer range. As a result, we expect to sell over 100,000 summer dresses, over 500,000 tops and T shirts, and 100,000 pieces of womens swimwear. 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.
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