Adventure apparel and outdoor equipment retailer Kathmandu has again reported an uplift in sales, this time for the first quarter of fiscal 2012.
The retailer, which has recently enjoyed a series of profit increases, today announced 16 per cent sales growth, to $42.70 million ($NZ56 million) for the 15 weeks to November 13.
Same store sales also increased, by 7.6 per cent during the period, compared to 2.1 per cent growth in the first 16 weeks of the 2010-11 financial year.
Chief executive Peter Halkett said that despite the difficult retail trading conditions, sales performance in the first quarter of the 2012 financial year was in line with expectations.
“Sales momentum has been steady and we have maintained gross margins. It must be noted however, first half year profit is highly dependant on the Christmas an January trading period.”
Halkett also said Kathmandu's store rollout and refurbishment program, following the company's recent rebrand, was on track.
“There are some significant relocations to larger, higher profile sites currently under way. Before Christmas, Kathmandu will be opening a new store in Warrnambool, Victoria and relocating stores in Chatswood, Sydney and Willis Street, Wellington in New Zealand. The relocated Newmarket store in Auckland is also expected to open in February,” he said.
“Kathmandu is still aiming to open 15 new stores in FY12, and two further new Australian stores are scheduled to open early next year and a number of other sites are under negotiation.”