Adventure apparel and outdoor equipment retailer Kathmandu has re-opened its store in Riccarton, New Zealand, after it was forced to close when the Christchurch earthquake hit on February 22.
As reported on the Ragtrader website on February 24, 2011, the New-Zealand based retailer closed three of its Christchurch-based stores, and suffered some damage to its head office and New Zealand distribution centre after the disaster, which measured 6.3 on the Richter scale.
Kathmandu's largest store, Tower Junction, was the first to re-open, but the retailer's other two Christchurch -based stores in Riccarton and central city (Cashel Street) suffered extensive earthquake damage.
Cashel Street is now the only remaining store left to re-open, but in a statement to the Australian Securities Exchange today, Kathmandu said the location was “closed indefinitely, as within the Civil Defence prescribed central city red zone.
As reported on the Ragtrader website, March 17, 2011, Kathmandu also recently released financial figures or the six months ended January 31, 2011 and reported a rise in net profit after tax to $8.0 million - an increase of $4.4 million on figures for the previous corresponding period.
The company also reported sales up 13.5 per cent to $97.4 million, with total sales growth for New Zealand up 12.4 per cent and up 20.8 per cent in Australia.