While Kiwi outdoor apparel retailer Kathmandu seems to have tracked down a vein of Aussie consumers who were ready to spend enough to boost the company’s earnings to record levels in the year to the end of July, the real boost came from the first full year contribution from US boot maker, Oboz.
Shares in New Zealand-based outdoor clothing and equipment retailer Kathmandu fell more than 2% yesterday after revealed it was “urgently investigating” a suspected customer data breach of its trading websites.
Shares in outdoor clothing chain Kathmandu were halted yesterday to allow a multi million dollar fund raising to take place that will finance most of the acquisition of US footwear company Oboz for $US60 million ($78 million).
Kathmandu ((KMD)) improved its trading momentum in the first half. Gross margins improved strongly in February, which partly reflects a weak comparable period in New Zealand, although Deutsche Bank cautions that this is a small sample in a low season.
FY17 results – pre-released early August – show continued growth in Australian sales and ongoing recovery in the New Zealand business. Deutsche Bank highlights the very strong sales performance in in apparel market which has been challenging.