// Mountain Warehouse revenue reaches £302.6m
// It made an operating profit of almost £11m but a pre-tax loss of £102,000 due to continued lockdowns
Mountain Warehouse has posted record sales of £302.6 million as it sets its sights on more stores.
In the 12 months to the end of February 2022, the company said revenue was up 26% on the prior year and 4.6% higher than 2019/20, before any impact from Covid-19.
It made an operating profit of almost £11 million but a small pre-tax loss of £102,000 due to continued lockdowns across the world at the start of its financial year, sharply higher freight costs and investment in a new, larger distribution centre to support future growth.
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Mountain Warehouse founder Mark Neale said: “At the start of the pandemic we were standing on a cliff edge staring into the abyss. All our shops were shut, our people were furloughed, and we were in a perilous position.
“Two years on, and we have recorded record sales of more than £300m for the first time and trading strongly. There are still some strong headwinds from freight costs, supply chain headaches, energy costs and rising inflation. But we are growing again – relocating stores and selectively opening new ones and investing in our online business.
“The current wintry weather may not be to everyone’s liking, but if you need outdoor clothing to keep you warm and dry this winter Mountain Warehouse has some great products at fantastic prices.”
He said the sales increase was driven by a big increase in the company’s online range, which doubled to 30,000 products, with ecommerce up 63% on pre-Covid levels.
The business benefitted from the big increase in “staycation” holidays which increased demand for hiking boots, camping equipment and wetsuits.
The company recently renewed its £100m banking facility with HSBC, NatWest and RBC, a vote of confidence in the firm’s future and ensuring it has the resources to continue expanding.
Mountain Warehouse recently opened several larger, out-of-town stores to showcase its expanding product range, including Colchester, Essex; Rugby, Warwickshire; and Solihull, West Midlands in the UK and Auckland in New Zealand.
The company recently enjoyed its busiest ever Black Friday with sales of more than £3 million in a single day for the first time ever, a 10% increase on last year, with sales of more than 100,000 fleeces and 50,000 ski jackets.
It is also seeing “strong” pre-Christmas trade, helped by the current cold snap across the UK.
Last weekend was its busiest ever in stores selling 250,000 hats, gloves, socks and scarves, up 60% on the same week last year. Sales of padded jackets were up 32%, thermals 125% and snow boots a massive 146%.
