THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Mountain Warehouse celebrates profits surge

Outdoor retailer Mountain Warehouse has reported a sharp rise in its full-year profits after seeing a 10.1% increase in like-for-like sales.

GENERAL MERCHANDISE

Mountain Warehouse celebrates profits surge

Outdoor retailer Mountain Warehouse has reported a sharp rise in its full-year profits after seeing a 10.1% increase in like-for-like sales.

In the year to 28 February 2013, pre-tax profits soared by 75% to £7.5 million while total sales rose 17% to £75 million.

In addition to the increase in like-for-like sales, the surge in profits was fuelled by a strong performance from the retailer’s online business which more than doubled its takings.

During the year, Mountain Warehouse opened 15 new stores, taking the total to 154 at the end of the period. The retailer also plans to open at least 20 new stores in the UK in the next 12 months, creating over 150 new jobs.

Mountain Warehouse now has 160 stores selling more than eight million items a year, with the 160th opening in Richmond, North Yorkshire last week.

Mark Neale, Mountain Warehouse’s founder and chief executive, said the company was also boosted by last year’s dismal weather and the extended winter.

He said: “The weather definitely helped. Last April was the wettest for 100 years and the summer was a washout, but every cloud has a silver lining – at least for our business.”

The profits increase was despite a flood of stock being sold at knockdown prices at the start of 2012, following the collapse of the Blacks/Millets business.

Neale, who started the business 15 years ago with a single store in Swindon, said the success of Mountain Warehouse suggested those predicting the demise of the high street were too gloomy.

Mountain Warehouse tends to favour market towns and locations popular with walkers and tourists.

Neale added: “Despite all the talk about the death of the high street, in our experience there is still plenty of life in many towns up and down the country. Consumers are looking for the right products that offer great value – both on the high street or online. We have well located stores, fantastic customer service and a great website too.”

The retailer said its new financial year had started well with like-for-like sales well over 10% as its online business continues to expand.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process