UK outdoor clothing retailer Mountain Warehouse has posted record profits for the year to 28 February 2017.
Mountain warehouse richmond
Pre-tax profit jumped by 22% to £19.8m, up from £16.2m in 2016. EBITDA was up by 25% to £25m.
Sales climbed to £184.8m – an increase of 30.8% from £141.4m last year.
Like-for-like sales grew by 16.5%, which was a drop on 2016’s sales growth of 19.3%.
Online sales surged by 50.6%, and accounted for a quarter of sales, while international sales doubled to account for a similar amount (25%) of sales.
During the year, Mountain Warehouse opened 41 new stores and created more than 400 jobs. Its store count at the end of February stood at 262.
The retailer has also outlined plans to open 40 new stores during the 2017/18 financial year, roughly half of which will be overseas.
It is eying expansion opportunities in the Czech Republic and Germany, following three store launches in Poland.
In the UK, new openings in the past year included stores in Winchester, York, Chester, Oban in Argyll and Bute, Fowey in Cornwall, Oakham in the Midlands, Salisbury and Sherborne.
Mountain Warehouse founder and chief executive Mark Neale said: “We started with a single shop in 1997 and, 10 years later in 2007, we had around 40 stores with sales of about £20m.
“The downturn in 2008 allowed us to start growing really quickly when stores became easier to find and customers were looking for fantastic value. We passed 100 stores in 2010 and have been on a steep climb since then, with online and international playing a bigger and bigger part in the business.”
- Read the Drapers Interview with Mark Neale: How Mountain Warehouse hiked up its sales