Kathmandu sales below management expectations

Company News

by Rachael Jones

Kathmandu (ASX:KMD) sales for Australia and New Zealand during December have been below management expectations and the prior year.

Same store sales for the 22 weeks ending 30 December 2018 are below prior year by 1.0 per cent (at constant exchange rates).

Same store sales are below prior year by 0.2 per cent in Australia, and below prior year by 2.4 per cent in New Zealand.

Kathmandu’s Chief Executive Officer says following strong same store sales growth in Q1, they are disappointed in trading results in Australia and New Zealand over the Christmas and Boxing Day period.

Shares in Kathmandu (ASX:KMD) are trading 9.2 per cent lower at $2.38

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.