25 Nov 2010

Retail conditions still tough - Kathmandu

9:03 pm on 25 November 2010

Kathmandu boosted sales in recent months, but says retail conditions remain tough in all of its markets.

The clothing and outdoor retailer made sales of $51.6 million in the 16 weeks to 21 November, up more than 9% on the same period a year earlier.

Same store sales rose by more than 2%.

Chief executive Peter Halkett told shareholders at its annual meeting in Australia on Wednesday that it was a reasonable performance given the volatile conditions.

Mr Halkett says retail conditions in Australia, New Zealand and Britain remain challenging, but assuming there was no further deterioration in trading conditions, the company will continue to improve profitability in the coming year.

But he says that will be largely going to be dependent on the Christmas and January trading period.

Shares in Kathmandu rose 1 cent to $1.56 on Wednesday.