Financial Highlights
Mountain Warehouse, the UK’s leading outdoor retailer, today announces that sales climbed 14% to £255 million in the 12 months to the end of February, marking 22 years of unbroken revenue growth. Pre-tax profits increased 14% to a record £23.7 million, boosted by strong demand online and the group’s growing international footprint.
• 22nd year of unbroken sales growth
• Sales UP 13% to £255m (2017/18: £225.3m)
• Like-for-like sales UP 5.3%
• Online sales UP 23%, accounting for around a quarter of sales
• Total International sales UP 20.0% and now account for over 30% of revenue
• Pre-tax profit UP 14% to £23.7m (2018: £20.8m)
Operational Highlights
• Total of 48 new stores opened, creating over 500 jobs
• New shared service centre in Coventry opened, creating 60 jobs
• New distribution centres opened in Poznan, Poland and Christchurch, New Zealand
• International expansion accelerated with a total of 87 stores at year end, in eight countries
• A further 50 Mountain Warehouse stores planned for 2019, creating over 550 new jobs
• New openings in the UK, Europe, North America and New Zealand
• An additional 10 Neon Sheep Stores to open in 2019, doubling the size of the flock
• Investment continues at pace, with £15m earmarked for CAPEX in 2019
• Donations of £100,000 to local charities chosen by stores, from sale of reusable cotton bags.
“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 to the 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.”
The group, which started with a single store in 1997, also opened almost 50 more branches, creating more than 500 jobs. Amongst the 33 new openings in the UK were stores in St Andrews, Sheffield and London.
The group also opened a further 15 outlets overseas, including the first two outlets in New Zealand, taking its international footprint to 87 stores in eight countries.
While many retailers are closing stores, the group plans to open a further 50 branches of Mountain Warehouse this year, creating 550 jobs. The new stores will include around 20 in the UK as well as more in Europe, North America and New Zealand.
In addition, the group will open 10 more branches of Neon Sheep, its quirky, impulse gift chain, doubling the size of the flock. The chain expects to open more stores outside London this year in towns such as St Albans, Leeds and Abergavenny.
Founder and CEO Mark Neale said: “I’m delighted to have delivered another set of record results, despite the obvious headwinds.
