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.”