Thursday 22nd December 2011 |
Text too small? |
Kathmandu, the outdoor equipment and clothing retailer, said first half earnings will fall as Christmas sales fail to meet management expectations.
The retailer expects first half earnings before interest, tax, depreciation and amortisation to be less than the NZ$23.2 million it made in the first half a year earlier, it said in a statement. The shares fell 2.3 percent to $2.15 and have gained 22 percent this year.
“Our trading performance throughout the Christmas period to date has been below expectations, which is a reflection of weaker consumer spending,” said Peter Halkett, chief executive. “A number of actions have been initiated to recover the sales shortfall over the Christmas period and subject to second half trading, full year profit growth remains achievable.”
Same-store sales rose 9.2 percent in the fifteen weeks ended Nov. 13. When the extra five weeks through to Dec. 18 are included the pace of growth was reduced to 2.8 percent.
Kathmandu will release full details of its first-half results on Mar. 21.
BusinessDesk.co.nz
No comments yet
SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report