Outdoor specialist Mountain Warehouse is looking to potentially take over former Carpetright stores after it reported a return to profit in the full year ending February 29, 2024.
Mountain Warehouse bounced back into the black with a pre-tax profit of £26.2m. This is up compared to a pre-tax loss of £1.5m in the previous year when the business took on incremental costs due to the Covid-19 pandemic.
Total sales reached a record high in the retailer’s 27-year history with a 4% year-on-year increase to £386m. Store revenue was up 7.1% driven by 28 new and relocated branches, including 21 in the UK, three in New Zealand, two in Canada and two in Poland.
Looking ahead, the retailer said it targets up to 50 new stores and relocations in the full year of 2025 and it had already opened 20 sites since the start of the new year.
Chief executive Mark Neale told Retail Week the business was evaluating former Carpetright stores across the UK as it continues expansion but it was too early to put a number on how many stores it could take over.
Neale said: “It would be a very small number and I think a lot of them have already been sold to Tapi. But we’re looking at a small number, maybe a handful.”
The retailer also opened its first two stores in Australia, in Brisbane and Melbourne, as it looks to increase its presence in the market.
Neale added: “During Covid, a lot of people were claiming nobody was ever going to visit stores again and their days were numbered. We never believed that and it has proved to be wide of the mark.
“While our online business had a big boost during the pandemic, we kept investing in stores and their success shows customers relish choice and the opportunity to shop how and when they want.”
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