Mountain Warehouse bucks the retail trend as sales soar
Strong online sales and a series of openings helped Mountain Warehouse continue its winning streak in the year to 25 February, with the outdoor retailer reporting a 22% surge in revenue to £225.3m.
This is the 21st year of unbroken revenue growth for the British company – a remarkable achievement given the challenges facing the UK retail sector in the last years.
Like-for-like sales at the company’s 300 stores increased by 14%, and online recorded a 32% rise against the previous year. Meanwhile, the international business was boosted by the brand’s expansion into New Zealand and Holland during the year, and grew by 36.5%. Mountain Warehouse now has a presence in nine countries.
Despite the string of closures from struggling retailers, Mountain Warehouse plans to open 40 new stores over the next 12 months. Half of them are due to be opened overseas, whilst UK launches are planned in cities including Epping, Swansea, Oxford and Crewe.
“We’ve all seen the struggles some retail business are having. At Mountain Warehouse, our relentless focus on value for money, everyday outdoor gear for all the family has continued to resonate with our customers,” commented founder and CEO Mark Neale.
“We grew rapidly during the last downturn and I’m confident we will continue to grow over the coming year. We do not subscribe to talk about the death of the high street. If you have the right products at the right price, with good service, customers will keep shopping with you if you have the right retail locations.”
The company also operates Zatki, an activewear brand for men, women and children.
Copyright © 2021 FashionNetwork.com All rights reserved.