Sharechat Logo

Kathmandu first-quarter sales rise 0.9 percent as crucial seasonal peak looms

Wednesday 20th November 2013

Text too small?

Kathmandu, the outdoor clothing retailer, said sales rose 0.9 percent in the first 16 weeks of the year, broadly meeting its expectations, as it looks forward to the crucial Christmas-January trading period to drive first-half earnings.

Sales rose to $70.9 million in the 16 weeks ended Nov. 17 from $66.9 million in the comparable 15 week period a year earlier. Same-store sales rose 3.8 percent on a constant exchange rate basis, slowing from 13 percent a year earlier, the Christchurch-based retailer said in a statement that accompanied its annual meeting today.

"Despite difficult retail trading conditions, our sales performance in the first 16 weeks of the financial year was approximately in line with expectations," said chief executive Peter Halkett. "Our first half-year result remains highly dependent on the Christmas and January trading period."

Sales in the first quarter only make up about 20 percent of revenue for the first half. The company remains on track to open 15 new stores in the 2014 year, Halkett said.

The shares slipped 0.8 percent to $3.84, having surged 94 percent this year. The stock soared in September after the company posted record annual earnings.

Separately at today annual meeting, Trade Me chairman David Kirk was named as a non-executive director, with the intention that he become chairman in early 2014.

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:

NZ dollar rises, an outlier amid rising Gulf tensions
Craigmore spends $32M to expand Kerikeri kiwifruit crop by 'more than a third'
CentrePort eyes further hub expansion
South Port beats guidance, earnings in line with 2018 record
Plexure sees revenue growth from White Castle deal
22nd July 2019 Morning Report
NZ dollar treading water as markets focus on Iran
MARKET CLOSE: NZ shares extend gain as passive funds bolster prices; Tourism Holdings climbs
NZ dollar headed for 1.3% weekly gain on expectations of a Fed rate cut
RBNZ knock-back gives Resolution chance to low-ball AMP - Jarden

IRG See IRG research reports