Mountain Warehouse is expanding with 50 new stores due to rising in-store demand.
- The retailer will increase its presence both in the UK and internationally.
- Founder Mark Neale is optimistic about the vitality of high streets.
- The company reported a record high sales of £386m.
- Mountain Warehouse has rebounded with a £26.2m pre-tax profit.
Mountain Warehouse, a prominent outdoor retail brand, is embarking on an ambitious expansion with a plan to open 50 new stores across various regions. This decision comes in response to a significant increase in in-store shopping demand, indicating a shift in consumer behaviour favouring physical retail locations over online shopping. This expansion includes new outlets both within the United Kingdom and internationally, which will bring the total number of stores to approximately 370 across nine countries, according to reports from The Times.
The company’s founder and CEO, Mark Neale, has expressed strong confidence in the continued relevance and potential growth of traditional high street shopping. In direct remarks, Neale countered prevailing narratives about the decline of high streets, stating, ‘We think there is lots of life left in lots of our high streets.’ His optimistic outlook is underscored by the company’s strategy to invigorate physical retail presence.
In the financial year ending 25 February, Mountain Warehouse achieved remarkable sales success, recording a figure of £386 million. This represents a new record for the retailer and signifies a robust recovery in its financial performance. The company transitioned from a loss of £1.5 million the previous year, primarily due to costs associated with the COVID-19 pandemic, to a substantial pre-tax profit of £26.2 million.
To leverage the renewed consumer interest in in-store shopping, Mountain Warehouse has already opened 28 stores throughout the year, along with an additional 20 stores since year’s end. This retail expansion, which includes 21 new UK locations and eight international openings, such as its first store in Brisbane, Australia, has further cemented its market position. The company also expanded its Covent Garden branch significantly and acquired a former Wilko site in Cornwall.
The strategic expansion and financial recovery of Mountain Warehouse demonstrate the brand’s adaptability and forward-thinking approach to retail. Its ability to quickly react to changing market conditions and consumer preferences is a testament to its management’s acumen.
Mountain Warehouse’s expansion underscores the vitality and potential of high street retail.
