Mountain Warehouse plans to launch another 50 outlets next year. The outdoor store is pursuing an ambitious expansion strategy in the UK and around the world, fuelled by increased demand for in-person shopping experiences. According to sources, the company will open roughly 50 new locations worldwide this year, bringing its total to over 370 outlets in nine countries.
Mountain Warehouse founder and CEO Mark Neal said, “We think there is lots of life left in lots of our high streets. All that death of the high street stuff has been a bit overdone. We’re definitely very positive about physical retail at the moment.”
Last month, the store announced that its sales had reached a record high of £ 386 million in the fiscal year ending 25th February. It returned to profitability this year, earning £ 26.2 million in pre-tax profit, up from a £ 1.5 million loss the previous year due to increased Covid-19 costs.
Neale attributed its great performance to shoppers returning to the high street following the pandemic, and to capitalise on this, it opened 28 stores over the year, with 20 more added since the end of the year. Store sales increased by 7.1% over the previous year, aided by the additional stores.
The new Mountain Warehouse stores included 21 in the UK where it more than doubled the size of its Covent Garden branch and took on the ex-Wilko site in Cornwall, as well as eight international shops, including its first in Brisbane Australia.
