Sharechat Logo

Kathmandu forecasts drop in first-half profit as Christmas sales lag expectations

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



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto