{"id":161591,"date":"2019-05-31T15:41:08","date_gmt":"2019-05-31T15:41:08","guid":{"rendered":"https:\/\/www.theindustry.fashion\/mountain-warehouse-plots-expansion-as-profits-rise\/"},"modified":"2021-08-12T13:56:43","modified_gmt":"2021-08-12T13:56:43","slug":"mountain-warehouse-plots-expansion-as-profits-rise","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/mountain-warehouse-plots-expansion-as-profits-rise\/","title":{"rendered":"Mountain Warehouse plots expansion as profits rise"},"content":{"rendered":"<p>Outdoor store Mountain Warehouse has <strong>defied retail gloom with another year of sales and profit growth<\/strong>, as the business embarks on a major expansion plan.<\/p>\n<p><!--more--><\/p>\n<p><strong>Sales were up 13% in the 12 months to 24 February,<\/strong> reaching \u00a3255m, the company said. Like-for-like sales were up 5.3%.<\/p>\n<p>It marks the <strong>22nd year in a row of unbroken sales growth for the business<\/strong>, which was founded in 1997.\u00a0Pre-tax profits were up 14% to \u00a323.7m.<\/p>\n<p>The company said it had opened 48 new stores in the period and has p<strong>lans for 50 more in 2019<\/strong>, which will create an estimated 550 jobs.<\/p>\n<p>Speaking to the Press Association, chief executive and founder Mark Neale said the brand had escaped the high street crisis due to<strong> its \u201crelentless focus on value for money\u201d,<\/strong> as well as new products and picking the right locations for stores.<\/p>\n<p>He added that <strong>expansion has been aided by the number of retailers closing shops<\/strong> through company voluntary arrangements (CVAs).<\/p>\n<p>\u201c<strong>Last year we got eight new shops on the back of the New Look CVA<\/strong> which was pretty helpful to us as they were in towns where we\u2019d been trying to get a shop for long time,\u201d he said.<\/p>\n<p>In addition to the core Mountain Warehouse brand,<strong> the business also runs gift shop Neon Sheep.<\/strong> Another 10 branches are set to open this year, doubling the size of the chain.<\/p>\n<p>The company last year received <strong>an investment of \u00a345m from Inflexion Private Equity Partners<\/strong> last year, which it said would help it to gain share of the European outdoor clothing and equipment market.<\/p>\n<p>Mountain Warehouse expects to spend \u00a315m this year reinvesting in the business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":150551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[9951,13918,13919,13920,14700],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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