Kathmandu Is Looking Offshore For Growth As Local Profits Fall

(Photo: Getty Images)

Kathmandu’s profit fell 4.6% after a weaker dollar and a slump in demand during the key selling month of June.

The adventure clothing retailer made a net profit of NZ $42.15 million for the year to July 31.

Sales were 2.3% stronger at $392.9 million.

Chief Operating Officer Mark Todd says the result is a good considering reduced customer demand in June and a NZ $5.8 million adverse impact of exchange rates.

The retailer saw sales in Australia up 6.9% and the company expects similar growth in the year ahead.

Kathmandu is investing in international expansion, including the UK and Europe.

The company’s sales performance:

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