Kathmandu Holdings Limited (ASX:KMD) has trimmed its earnings forecast for the first half of the 2012 financial year.
The outdoor clothing and equipment retailer now expects to deliver less first half earnings before interest, tax, depreciation and amortisation than last year’s $18 million result.
The cut to its guidance has been blamed on softer than expected sales in the lead up to Christmas.
CEO Peter Halkett says the Christmas trading period has performed below expectations, reflecting weaker consumer spending.
Mr Halket says the company’s full year result is dependent on second half year trading which last year contributed almost 70 per cent of its total year profit.
Kathmandu believes full year profit growth remains achievable.
In the 2011 financial year Kathmandu Holdings tripled its net profit to $31 million.
