Mountain Warehouse has announced plans for significant expansion, planning to open 50 new stores this year.
- Driven by a surge in in-store shopping, the retailer is expanding both domestically and internationally.
- The opening of new locations will raise the total number of stores to approximately 370 across nine countries.
- Record sales of £386m and a return to profitability highlight their successful strategy.
- The CEO expresses confidence in the future of high streets, seeing untapped potential.
In response to increasing consumer demand for in-store shopping, Mountain Warehouse has decided to open 50 new stores within the year. This ambitious expansion plan aims to extend the retailer’s presence both within the UK and globally, reinforcing their market position as a leading outdoor retailer.
The company’s strategy is a response to the latest in-store sales surge, underscoring a renewed customer interest in physical retail. Mountain Warehouse’s expansion includes about 50 new locations, culminating in a network of approximately 370 stores across nine countries. This move reflects the growing trend of shoppers preferring brick-and-mortar experiences post-pandemic.
The retailer reported a record-breaking sales figure of £386m for the year ending February 25, marking a strong recovery with a pre-tax profit of £26.2m, compared to a £1.5m loss the previous year, largely attributed to Covid-19 related costs. This financial turnaround is attributed to strategic store openings and the resurgence of high street shopping.
This year, Mountain Warehouse has already opened 28 new stores and 20 more since the year-end, contributing to the 7.1% increase in store sales. Significant expansion within the UK includes doubling the size of its Covent Garden branch and acquiring the ex-Wilko site in Cornwall. Additionally, international growth includes the opening of its first store in Australia, in Brisbane.
Founder and CEO, Mark Neale, expressed optimism about the future of physical retail, stating that the ‘death of the high street’ narrative is exaggerated. Neale is confident in the longevity and potential of high streets for retail success, which is echoed in the strategic expansion plans.
Mountain Warehouse’s strategic expansion underscores its confidence in retail growth and the enduring appeal of physical shopping locations.
