Mountain Warehouse to open 50 stores in 2024 amid record revenues

Mountain Warehouse has revealed it will be opening a new branch every week in the run up to Christmas and 50 more stores next year, as it aims to ramp up its expansion plans.

It comes as its revenues increased 22.6% to £371m in the year ending February 2023 amid what it called “heightened demand for its brand on the high street”. 

The retailer also opened a new branch in Norwich last month in a former Top Shop. According to the retailer, it has been its most successful store opening ever. 

Mountain Warehouse expects its expansion plans to create approximately 350 jobs this year – on top of a similar number last year. The group currently employs more than 3,500 people.

Despite reporting the highest revenues to date in its 26-year history, the retailer also made a £1.5m loss due to soaring freight and energy costs. 

During the six months to August 2023, the group saw sales hit £171m and underlying profits of £6.7m. Its performance was helped by the “wash-out” summer, selling 350,000 waterproof jackets in July and August alone.

Mark Neale, founder of Mountain Warehouse, said: “Whilst our online business had a big boost during the pandemic and continues to go from strength to strength, our stores have bounced back with gusto showing that customers want to shop both channels.

“We are having our busiest Black Friday weekend ever, with sales of more than £10m and more than a million people visiting our stores.”

He added: “The current cold snap 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 both in store and online.”