Mountain Warehouse FY sales hit ‘record’ £386m amid new openings
Some 21 new stores were opened in the UK, where it also doubled the size of its Covent Garden site and took on a former Wilko store in Cornwall
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Mountain Warehouse has revealed that store sales rose 7.1% to a “record” £386m in the year to 25 February, owing to the group’s 28 store openings – including its debut in Australia.
The group has attributed its performance to shoppers returning to the high street after the height of the pandemic.
Some 21 new stores were opened in the UK, where it also doubled the size of its Covent Garden site and took on a former Wilko store in Cornwall.
The remaining Mountain Warehouse stores were opened internationally.
As a result, the outdoor clothing retailer has made a pre-tax profit of £26.2m, following a £1.5m loss in the previous year.
Mark Neale, CEO of Mountain Warehouse, said: “During Covid a lot of people were claiming nobody was ever going to visit stores again and their days were numbered. We never believed that, and it has proved to be wide of the mark.
“Whilst our online business had a big boost during the pandemic, we kept investing in stores and their success shows customers relish choice and the opportunity to shop how and when they want.”
Online sales at the retailer also rose by 2.2% during the period, and now accounts for almost a third of its revenues – rising from just under a quarter pre-pandemic.
Since the group’s financial results, Mountain Warehouse has secured an additional site in Melbourne, Australia, which is planned to open at the tail end of October.
The group, which already has a strong presence in New Zealand, has plans to open up to 50 more branches and relocations globally in its current financial year.
