Adventure apparel retailer Kathmandu has continued its stellar trajectory under new leadership, with ambitious growth plans on the horizon.
As previously reported on ragtrader.com.au, the company appointed David Kirk as its new chairman in February this year, replacing John Harvey who had been acting chairman of Kathmandu since March 2013.
Since then, the company has recorded sales of $NZ93 million (approximately $A86.58 million) for the three months to April 27, up 3.6 per cent from the same period in 2013.
Same store sales, however, were down 0.6 per cent from last year.
The company has attributed the positive results to strong trading performance during its Easter sale promotion, boosted by the later timing of Easter and the change to cooler weather in both Australia and New Zealand.
Kathmandu has also confirmed plans to bolster its existing retail network during 2014, with a “new target of 180 new stores for Australia and New Zealand”, up from the previous aim of 170.
Approximately 15 new stores are slated for launch in the current financial year through to July.
Commenting on the full year outlook for the fiscal year 2014, the company said it remains confident of a strong performance.
Specifically, the company has cited expectations for a 3.8 percent rise in net profit to $45.9 million and a 5.5 percent increase in sales to $405 million.