Mountain Warehouse has reported rising revenues for the 22nd year in a row – driven by online and international sales growth.
Ecommerce sales grew by 23% to represent a quarter of Mountain Warehouse’s sales, while international sales grew by 20% to account for more than 30% of revenue. Overall, the outdoor equipment retailer, ranked Top150 in IRUK Top500 research, said that its sales grew by 14% to £255m in the 12 months to February 24. Pre-tax profits of £23.7m were 14% up on the same time last year.
Mountain Warehouse opened its first store in Swindon in 1997, and now has almost 350, including 87 international stores in eight countries. During its last financial year it opened almost 50 new branches, of which 33 were in the UK. Distribution centres were opened in Poland and New Zealand, to support growth in those regions.
Over the coming year it also plans to open a further 50 Mountain Warehouse stores – including 20 in the UK – along with 10 branches of its Neon Sheep gift chain in towns and cities including St Albans, Leeds and Abergavenny. It also plans to invest £15m in the business over the coming year.
Mountain Warehouse founder and chief executive Mark Neale said: “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 tot he terrific efforts of our 3,500 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.”
During the year, Mountain Warehouse won £45m investment from Inflexion Private Equity Partners, via specialist fund Inflexion Partnership Capital, in return for a minority stake in the business.
Image courtesy of Mountain Warehouse