Wednesday, May 22, 2019

Mountain Warehouse profits lift for the fourth consecutive year


Mountain Warehouse continued to outperform its own expectations according to its full year results ending 28 February. Pre-tax profits rose by more than a third, 36% to £16m and like-for-like sales increased by a fifth.

The year to the end of February has marked the company’s fourth consecutive year of profit growth.

The outdoor retailer noted that like-for-likes grew by 19.3% and overall sales were lifted by 28.7% to £141.4m. Online sales grew by a significant 47%, now accounting for a fifth of total sales.

Selected childrenswear ranges performed notably well with kids clothing growing by 53% in the first 10 weeks of trading.

Outside of the UK, sales in the US, Ireland and Germany now represent 20% of Mountain Warehouse‘s revenue.

During the last year the specialist retailer opened 40 new sites, creating in excess of 400 jobs, and plans to open an additional 40 this year. 20 of these will be in international locations.

The group currently has a total of 242 stores, 45 of them are international.

“The past year has been a tough one for the UK retail sector and our performance vindicates the hard work we have done to ensure we give customers the right products at the right price both online and in store” said Mountain Warehouse Founder and Chief Executive Mark Neale.

“We have worked very hard to weather-proof the business, ensuring that we have great products come sunshine or snow, hail or heat wave. This has certainly paid off in recent weeks when the weather has been very changeable.”