Outdoor clothing and equipment company Kathmandu says sales in the financial year so far are slightly higher than in the same period last year.
Outdoor clothing and equipment retailer Kathmandu’s sales have grown slightly, meeting the company’s expectations.
Total sales for the 16 weeks to November 17 were up 0.9 per cent to $NZ70.9 million ($A63.50 million).
Same-store sales, which excludes the impact of new stores and closures, were up 3.8 per cent.
“Despite difficult retail trading conditions, our sales performance in the first 16 weeks of the financial year was approximately in line with expectations,” chief executive 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.
Kathmandu shares dropped nine cents to $3.31.