Mountain Warehouse to create 400 new jobs amid record profits

369
Mountain Warehouse

Mountain Warehouse has posted a double-digit jump in annual profits as it plans 40 new store openings creating hundreds of jobs.

In the year to February 2017 pre-tax profits shot up by 22 per cent to 19.8 million, while sales jumped 30.8 per cent to £184.8 million.

Like-for-like sales at the outdoor retailer also saw a 16.5 per cent rise, dropping slightly from 19.3 per cent a year earlier.

This has fuelled ambitious expansion plans, with the retailer aiming to open 40 new stores by the end of the year, creating over 400 new jobs.

The retailer already employs 2600 staff across its international estate, and boasted of international sales doubling in the period, while online sales shot up 50.6 per cent.

READ MORE: Mountain Warehouse enjoys record Christmas trading period

Chief executive Mark Neale told the Press Association that rising inflation and the subsequent squeeze on consumer spending was not a key concern for the retailer which has managed to keep its shelf prices from rising thanks to lucrative currency hedging.

“In previous downturns we have benefited potentially from people being on bit more of a budget and shopping with us when they would have shopped at more expensive brands,” he said.

“Right now, we are in discussion on two Brantano stores because they went bust a few weeks ago.

“Everyone says ‘doom and gloom Brantano are going bust’, but two new Mountain Warehouse stores are going to open as a result and will create new jobs.”

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here