Retailer backs away from listing

Tuesday, 18 October 2016 8:00

Outdoor retailer Mountain Warehouse has postponed its plan for a £200 million stock market flotation. Announcing record half-yearly sales, CEO Mark Neale blamed Brexit for the decision to cancel before going to warn that the declining value of sterling would see the company having to raise prices in the New year. He said:  "A third will come out of securing better prices from factories, a third will be absorbed by the business and a third will be passed on to customers with selective price increases. We are not alone in that - most retailers will have to do the same, so we will still be better value versus others."