Outdoor clothing and equipment company, Kathmandu, sales are up, in line with expectations.
Groups sales for the 16 weeks to November 17 were up 0.9 per cent to $NZ70.9 million ($A63.50 million), on an actual exchange rate, and up 3.8 per cent on a same-store sales basis, the company said on Wednesday in a market update for its annual general meeting in Auckland.
Australia and New Zealand same store sales were both up more than three per cent, it added.
“Despite difficult retail trading conditions, our sales performance in the first 16 weeks of the financial year was approximately in line with expectations,” CEO Peter Halkett said.
“Consistent with our normal trading pattern, sales to date are less than 20 per cent of our expected total sales for the year. Our first half-year profit result remains highly dependent on the Christmas and January trading period.”
Kathmandu has opened two new stores in Australia, in Melbourne and Adelaide, and one in Auckland.
It expects to have another two, one in Melbourne and another in Brisbane, open and trading before Christmas.
Another 15 new stores are still in the pipeline.
Others have completed or are undergoing refurbishment, the company said.
AAP