// Full-year sales increases 13% to £255m
// Like-for-like sales grows 5.3%
// Pre-tax profit increases 14% to £23.7m
// Online sales surges 23% and now accounts for around a quarter of sales
Mountain Warehouse has posted its 22nd year of unbroken sales growth, as it reaped the rewards of its expansion scheme.
According to the retailer’s full-year results, like-for-like sales increased 5.3 per cent year-on-year after it opened new distribution centres in Poland and New Zealand as well as 48 new stores – 33 of which were in the UK.
Total sales for Mountain Warehouse’s financial year ending February 24 increased for the 22nd year in a row, coming in at £255 million after a 13 per cent year-on-year uptick.
The retailer attributed the sales growth to its online and international arms, which surged 23 per cent and 20 per cent respectively, and now accounted for around a quarter of Mountain Warehouse’s total sales and over 30 per cent of total sales respectively.
Meanwhile, pre-tax profit went up 14 per cent year-on-year to £23.7 million.
While many British retailers are closing stores amid tough conditions on the high street, Mountain Warehouse said it planned to open a further 50 stores this year, creating 550 new jobs.
The new stores will include around 20 in the UK as well as more in Europe, North America and New Zealand.
In addition, company will open 10 more branches of Neon Sheep, its gifts retail chain, doubling the size of the fascia’s store estate.
“I’m delighted to have delivered another set of record results, despite the obvious headwinds.
“It’s 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 3500 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 women’s 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 women’s 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.”