Mountain Warehouse boss Mark Neale defends High Street

The boss of Mountain Warehouse on Friday said he doesn’t think the High Street is on its last legs as profits from the outdoor retailer have continued to soar.

Chief executive and founder Mark Neale said: “I don’t subscribe to this death of the High Street. You have to constantly reinvent yourself. If you just expect a 2% growth, it’s a dangerous game to be playing.”

Pre-tax profits grew 35.6% to £26.6 million and revenues rose by 22% to £225.3 million for the year to February 25. Same-store sales were up 14% but earnings were mostly lifted by online orders, up 32%.

Neale, who also owns an upmarket café Fig & Favour near where he lives in Worcestershire, will open 40 more stores this year — half of which will be overseas and one in Epping — as well as expanding his new stationery business Neon Sheep.

Mountain Warehouse, which has almost 300 shops, could take over stores that some of its struggling rivals, such as New Look or Mothercare, are planning to quit as they overhaul their businesses.