Cycling craze helps Mountain Warehouse to another record-breaker

Mark Neale is proud of the company's development
Mark Neale is proud of the company's development

Outdoor goods retailer Mountain Warehouse said yesterday the growing popularity of cycling helped it to a “stellar” third year in a row of record results.

The firm, which has shops in Aviemore, Elgin, Fort William and Inverness, said total sales grew by 20% to £109.9million during the year to February 28, with pre-tax profits up by 25% to £12million.

It also reported a 9% increase in like-for-like sales, which strips out the impact of stores opening and closing during the period, while online sales surged by 50%.

The retailer, which opened 34 branches in 2014/15, giving it more than 200 stores, is expected to add another 40 shops – creating 300 jobs – in the UK and overseas in the current trading year.

Recent international growth has seen the firm open four outlets in Poland and one in Germany.

As well as a cycling craze boosting related sales up by 43% in 2014/15, Mountain Warehouse said sales of its new tent and camping range since February 28 had more than doubled year-on-year.

Running gear is another money-spinner for the firm, which opened its Inverness store just before Christmas and sees outlets in garden centres as a “significant growth area”.

Founder and chief executive Mark Neale said: “We are scaling new heights – in our stores, online and increasingly overseas.

“Following last year’s excellent results I am delighted that we have delivered another record-breaking year, helped by the UK cycling craze.

“Trading in the new financial year has continued with the same positive momentum as we saw last year.”