Mountain Warehouse’s soaring sales defy gloom

OUTDOORS retailer Mountain Warehouse has defied the gloom on the UK high street with soaring annual sales.

The retailer, which employs around 3,000 people, grew its sales by 22% in the year to February 25, up from £184.8m to £225.3m. This represented likefor-like sales growth of 14%.

Earnings before interest, tax, depreciation and amortisation jumped 30.4% to £32.6m.

Online sales now account for a quarter of Mountain Warehouse’s business, having climbed 32% year on year.

Founder and chief executive Mark Neale said the company was focusing on opening new stores in the year ahead. The retailer has opened 25 new stores in the past year, creating around 300 jobs.

“We are concentrating on opening more stores,” he said.

“We do not subscribe to this ‘death of the high street’ story. We’ve found it quite difficult to find empty stores in the places where we want to open.”

International markets remain a key part of Mountain Warehouse’s business, with sales from overseas growing 36.5% year on year.

The company has opened its first store in New Zealand and Mr Neale said it was looking to open two more later this year.

In the UK, Mountain Warehouse has been picking up stores from brands which have been shutting up shop – including five of the 60 outlets being closed by New Look under a Company Voluntary Agreement.