Kathmandu Holdings Limited
(ASX:KMD) has warned conditions in Australia remain challenging for discretionary retail, but says it is well placed to deal with the environment.
Chairman John Harvey told shareholders at Kathmandu's annual general meeting that the retailer was not immune to economic uncertainty.
Mr Harvey said the company is looking to invest to grow the business and that he’s confident the retailer will maintain a strong market position even if there are tough times ahead.
Kathmandu chief executive Peter Halkett reiterated Mr Harvey's concerns saying economic conditions remain uncertain globally, and particularly in Australia, while consumers were cautious with discretionary expenditure.
Kathmandu generated a net profit of $39 million in fiscal 2013.
