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

Company News

by Rachael Jones

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$3.410 $0.055 1.62%
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Last Updated: 20/02/2020 3:56 PM

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.
 

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.