The outdoor clothing specialist said it was boosted by 65 new store openings in the year to February despite “challenging” conditions in the sector, amid high street closures
Mountain Warehouse is set to open 50 new locations following a year of record sales and profits. The company reported a 16.4% increase in revenues, reaching £449.2 million for the year ending in February.
This year has seen a dramatic loss of high street branches due to rising costs of both rent and the living wage, with multi-store closures from big brands like Poundland, Hobbycraft and even cafes like Costa.
The Mountain Warehouse expansion, however, comes after the outdoor clothing specialist opened 65 new stores in the year to February, despite facing “challenging” conditions in the sector – just as reports come of a ‘high street chain launching 70% off closing down sales as 25 shops set to shut’.
Founder Mark Neale revealed that the group, which currently operates over 400 stores, has a robust pipeline of larger shops lined up both in the UK and abroad as part of its growth strategy.
The private equity-backed firm now plans to open up to 50 additional sites, including relocations, across the UK and internationally this financial year (2025-2026).
Mr Neale expressed his pride in the team for delivering another set of record results, despite the challenging retail environment, reports the Manchester Evening News. He said: “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.”
He added: “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.”
In the UK, the company has been focusing on opening larger stores, including some in out-of-town retail parks, similar to Swedish giant Ikea’s current expansion strategy.
Mountain Warehouse has revealed a current expansion into larger outlets, previously occupied by Topshop – which is set to make it’s comeback – and Wilko. This move will enable the retailer to offer a broader product range, including stores with dedicated ski wear sections for the winter season.
On Friday, August 15, the company reported a 16.4% surge in revenues to £449.2 million for the year ending in February. The firm attributed this growth partly to the opening of new stores, with 27 new launches and 12 relocations across the UK over the past year.