Mountain Warehouse to open new stores after revenues jump

Yahoo

3 days ago

Mountain Warehouse has said it plans to open dozens more stores after the retailer's expansion drive helped guide it to record sales and profits for the past year.
The outdoor clothing specialist said it was boosted by 65 new store openings in the year to February despite 'challenging' conditions in the sector.
Founder Mark Neale said the group – which currently runs more than 400 stores – has a strong pipeline of new larger shops in the UK and overseas as it seeks to continue with its growth ambitions.
The private equity-backed firm said it expects to open up to 50 additional sites, including relocations, across the UK and internationally this financial year.
In the UK, has company has focused on opening larger stores, including some in out-of-town retail parks.
It has opened larger outlets in former Topshop and Wilko stores, allowing the retailer to stock a wider product range including stores with dedicated ski wear sections.
On Friday, Mountain Warehouse reported that revenues jumped by 16.4% to £449.2 million for the year to February.
The company said this was partly driven by new stores, with 27 new openings and 12 relocations in the UK over the year.
Mr Neale said: 'I'm proud of the team for delivering another set of record results, despite the challenging retail environment.
'The strong pipeline of new, larger stores that we have both in the UK and international markets means that we should be knocking on the door of £500 million revenue in the current year.
'And I actually think we have more opportunities for growth now than at any point I can remember – both in the UK and elsewhere, in stores and online.'