Kathmandu (ASX:KMD) report rise in Rip Curl sales

Company News

by Rachael Jones

Adventure retailer Kathmandu (ASX:KMD) report group underlying EBIT for the first half of financial year 2020 is expected to be around 40 per cent above the same period last year following the successful acquisition of surf retailer Rip Curl.

The acquisition was completed in October 2019.

Kathmandu achieved same store sales growth of 1.5 per cent for the 26 weeks ended 26 January 2020.

Online sales grew by over 30 per cent in H1 FY2020, underpinned by enhancements made to the online platform in the first half of last year.

Meanwhile, Rip Curl sales for the three months of Kathmandu’s ownership are expected to be 2.7 per cent above the comparable three-month period last year.

Shares in Kathmandu (ASX:KMD) are trading 9.47 per cent higher at $3.29.