By Aimee Chanthadavong
Kathmandu said its performance for the six months to 31 January 2011 is expected to be “significantly ahead” of the same period last year.
Chief financial officer Mark Todd told Retailbiz that unlike other retailers that were forced to discount a lot of their stock in-store during the December period, Kathmandu traded as normal, executing its annual Christmas promotions.
“We also invested a lot into new and more product offerings, which made us a better demand,” he said.
The New Zealand adventure retailer has forecasted that its group sales will be in the range of $NZ124 and $NZ126 million, up between 16.3 and 18.2 per cent on the previous comparative period.
It reported that same store sales increase will be 8.9 and 10.3 per cent and earnings before interest and taxes will be between $NZ 18.5 and $NZ 19.5 million, up 20 to 26 per cent.
Peter Halkett, Kathmandu CEO, said in a statement that while he is pleased with the trading performance, the company’s “overall profit result for the full year will remain dependent on second half year trading, when historically approximately 60 per cent of Kathmandu’s full year’s sales are made”.