Mountain Warehouse is proposing to open 50 new stores globally this year, defying the overarching trend among retailers of downsizing store estates.
The outdoor clothing and equipment retailer aims to add around 20 UK shops to its 87-store portfolio, which spans eight countries in Europe, the US and New Zealand.
Mountain Warehouse invested heavily in store expansion in the year to 24 February, during which it opened 48 new stores. Of these, 33 were in the UK, in locations including St Andrews, Sheffield and London.
The remaining 15 stores were launched overseas, including the retailer’s debut in New Zealand.
In addition, it aims to open 10 more branches of its Neon Sheep gift chain – which would double its current store count – with new branches planned in St Albans, Leeds and Abergavenny.
Sales at the retailer increased by 13% to £255m during the 12-month timeframe. Like-for-like sales rose by 5.3%, while pretax profit grew by 14% to £23.7m
Mark Neale, founder and chief executive, said: “I’m delighted to have delivered another set of record results, despite the obvious headwinds.
“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.”
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
