According to Fairfax Media, outdoor clothing retailer Kathmandu Holdings Ltd
(ASX:KMD) British operations are continuing to struggle, drawing questions over the future of the company’s operations in the country.
The company’s six UK stores have had losses of over $800,000 in the last financial year while its competitors have enjoyed sales growth of up to 10 to 20 per cent over the same period.
Kathmandu’s chief executive Peter Halkett says the recent cold weather in the UK meant there was no immediate pressure to make a decision.
He also added that the UK has been a difficult market overall.
For the year ended 30 June 2010, Kathmandu reported a net profit of $7.5 million.
