Mountain Warehouse has defied the doom and gloom plaguing the UK high street with yet another trading update of soaring sales and profits.
For the full-year ending February 25, the outdoors retailer grew its sales by 22 per cent, up from £184.8 million to £225.3 million.
This represented like-for-like sales growth of 14 per cent.
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Earnings before interest, tax, depreciation and amortisation jumped 30.4 per cent to £32.6 million, while pre–tax profit was up 35.6 per cent year-on-year to a record £26.6 million.
Online sales now account for a quarter of Mountain Warehouse’s business, having climbed 32 per cent year-on-year.
Meanwhile, international sales now accounts for almost 30 per cent of the retailer’s sales, thanks to a 36.5 per cent year-on-year uptick.
Mountain Warehouse’s founder and chief executive Mark Neale said the company was focusing on opening new stores in the year ahead.
The retailer has opened 25 new stores over the past year, creating around 300 jobs.
It now employs around 3000 people, and in the UK, there are ongoing plans to open stores in places where other retailers have been shutting up shop.
“We are concentrating on opening more stores,” Neale said.
“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.”
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