NEW ZEALAND: Kathmandu H1 profit surges on new openings
- H1 net profit up 72% to NZ$10.3m (US$8.6m)
- Sales up 13.1% to NZ$165.9m
- Same store sales up 3.7%
Outdoor gear retailer Kathmandu Holdings posted much-improved first half net profit, thanks to a double-digit sales increase fuelled by new store openings.
Meanwhile, online sales were up by more than 50%, but still accounted for less than 5% of total revenues.
“There was strong sales growth over the period; underpinned by successful new store openings and a solid increase in same store sales, despite a challenging market overall,” said Peter Halkett, Kathmandu CEO.
“Along with the continued growth in online sales, the new stores we opened in a variety of locations and formats have generally met or exceeded our sales expectations.”
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