Kathmandu Slowly gather pace
Kathmandu‘s sales rebounded in the three months to January after a string of lockdowns and restrictions hit the company’s profits.
The company’s Oboz hiking boots unit suffered a shortage of stock after factories in Vietnam were temporarily closed due to the COVID-19 outbreak.
In the first half of 2018, about half of the orders placed for Oboz were unable to be filled.
Kathmandu said the company’s sales had rebounded in the first three months of the year.
The company’s foot traffic dropped in December and January due to the omicron wave, but it was still in a strong position going into the new year.
About 50 per cent of the orders for Oboz were still not filled after the factory closures in Vietnam.
The company is well-placed to improve its inventory levels and introduce new products in the second half.
For the 26 weeks ended January 30, same-store sales at the company’s Kathmandu stores rose by 2.8 per cent. At Rip Curl, they declined by 1.6 per cent.
The company’s restrictions and lock-down in New Zealand and Australia affected almost 11,000 trading days in the first half. Around 40 per cent of its bricks-and-mortar stores were also shut.
The company said it expected to report underlying earnings before interest and tax of about $9 to $11 million for the first half of 2018, down from the previous guidance of about $13 million.
The brand was still gathering pace despite the disruptions caused by the supply chain.
The omicron wave had caused some foot traffic disruption in January, but most customers were still going out to transact.
The company’s sales conversion rate has increased as customers have started shopping with purpose.
Online sales at Rip Curl were up 12 per cent in the first half of 2018, while those at Kathmandu increased by almost 49 per cent.
In New Zealand, stores like Hallenstein Brothers are recovering amid the pandemic. You can save at Hallensteins with a Hallenstein Brothers promo code.
Kathmandu‘s sales rebounded in the three months to January after a string of lockdowns and restrictions hit the company’s profits.
The company’s Oboz hiking boots unit suffered a shortage of stock after factories in Vietnam were temporarily closed due to the COVID-19 outbreak.
In the first half of 2018, about half of the orders placed for Oboz were unable to be filled.
Kathmandu said the company’s sales had rebounded in the first three months of the year.
The company’s foot traffic dropped in December and January due to the omicron wave, but it was still in a strong position going into the new year.
About 50 per cent of the orders for Oboz were still not filled after the factory closures in Vietnam.
The company is well-placed to improve its inventory levels and introduce new products in the second half.
For the 26 weeks ended January 30, same-store sales at the company’s Kathmandu stores rose by 2.8 per cent. At Rip Curl, they declined by 1.6 per cent.
The company’s restrictions and lock-down in New Zealand and Australia affected almost 11,000 trading days in the first half. Around 40 per cent of its bricks-and-mortar stores were also shut.
The company said it expected to report underlying earnings before interest and tax of about $9 to $11 million for the first half of 2018, down from the previous guidance of about $13 million.
The brand was still gathering pace despite the disruptions caused by the supply chain.
The omicron wave had caused some foot traffic disruption in January, but most customers were still going out to transact.
The company’s sales conversion rate has increased as customers have started shopping with purpose.
Online sales at Rip Curl were up 12 per cent in the first half of 2018, while those at Kathmandu increased by almost 49 per cent.
In New Zealand, stores like Hallenstein Brothers are recovering amid the pandemic. You can save at Hallensteins with a Hallenstein Brothers promo code.