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Kathmandu Holdings Limited (NZX: KMD) Trading Update

Wednesday 25th November 2020

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Kathmandu Holdings Limited (NZX / ASX: KMD) today provides the following trading update.

Group total sales for the first quarter ended 31 October 2020 were +72% above last year, benefiting from the transformational acquisition of Rip Curl.

On a pro-forma basis (relative to the same period last year including three months of Rip Curl pre-acquisition):

• Group direct to consumer same store sales, including online, for the 16 full weeks ended 15 November 2020:

  -7.6% adjusted for lockdown closures (1), with Rip Curl +26.8% and Kathmandu -26.8%

  -24.1% unadjusted, with Rip Curl -1.7% and Kathmandu -37.7%

• Group online sales for the 16 full weeks ended 15 November 2020 were +37.0% above last year

• Group wholesale sales for the first quarter ended 31 October 2020 were -14.4% below last year

• Group EBITDA for the first quarter was in line with last year, including government subsidies and the realisation of cost synergies.

Commenting on the trading performance, Group CEO Xavier Simonet said:

“We are realising the benefit of a diversified Group, with strong performance in summer weighted product categories for Rip Curl in all key geographies, following successful winter trading for Kathmandu.”

See the link below for more details:

Trading Update

Source: Kathmandu Holdings Limited

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