Mountain Warehouse reports bumper Christmas trade
Outdoor retailer Mountain Warehouse has defied the high street gloom and reported record Christmas trading following a surge in sales of socks, fleeces and gloves.
In the 13 weeks to 6 January, Mountain Warehouse saw revenue jump almost 12% to £84.7m. The privately owned group also enjoyed a bumper Black Friday, with total sales up 20% and online sales passing £1m on a single day for the first time in its history.
CEO Mark Neale said this puts the business on track for record full-year profits. “The business is continuing to perform strongly despite the economic backdrop. The prior year’s performance was exceptional due to the cold weather and widespread snow we saw in the run-up to Christmas 2017.
“I’m therefore really pleased to report this year’s strong performance despite the unusually mild weather we have been experiencing. This puts us well on course for another record year.”
Last year the retailer, which employs around 3,000 people, grew its sales by 22% to £225.3m and booked earnings of £32.6m.
Mountain Warehouse served over three million customers during the 13-week festive period, with bestsellers including over 500,000 pairs of socks, almost a million fleeces, over 500,000 winter jackets and over 400,000 pairs of gloves.
The chain, which started with a single store in 1997, now has 340 in nine counties and plans to reach 400 over the next 18 months, creating 600 new jobs.
The group also opened a new customer services centre in Coventry in November to support online growth.
Last year Mountain Warehouse offloaded a 20% stake to private equity firm Inflexion, giving it an enterprise value of £310m.
Image: Press Association