KMD
20/11/2015 10:58
FORECAST
PRICE SENSITIVE
REL: 1058 HRS Kathmandu Holdings Limited
FORECAST: KMD: Trading update to 15 November 2015
KATHMANDU HOLDINGS LIMITED
ASX/ NZX/ MEDIA ANNOUNCEMENT
20 NOVEMBER 2015
TRADING UPDATE
o Group sales YTD to 15 November up 8.6% to $91.3m (actual exchange rates);
o Same store sales for the 15 weeks to 15 November up 4.8% (constant exchange
rates);
o Group gross margin up 5% points year on year for the first quarter of
FY2016.
Kathmandu Holdings Limited (ASX and NZX Code: KMD) announce unaudited sales
for the period 1 August to 15 November of $91.3 million, 8.6% above the
corresponding period last year.
Same store sales grew by 4.8% for the 15 weeks to 15 November*1. By market,
same store sales growth was Australia +6.5%, New Zealand +2.1% and a same
store sales decline in the United Kingdom of -0.9%.
Kathmandu's Chief Executive Officer Xavier Simonet said "We have made a solid
start to FY2016 with sales growth particularly strong in our largest market
Australia."
For the first quarter (1 August to 1 November) gross margin was 5% points
higher than last year and operating expenses were flat year on year despite
operating more stores and growing sales. Mr Simonet noted that "We expected
an improvement in gross margin for the first half of FY2016 due to fewer
clearance sales and it was good to see this eventuate. We have made a solid
start, which is encouraging, but our first half-year profit result still
remains highly dependent on the more significant Christmas trading period
from now to 31 January.
At this time we also re-affirm our full year net profit after tax expectation
of $30.2 million."
ENDS
For further information please call:
Reuben Casey, CFO
+64 272727573
End CA:00273809 For:KMD Type:FORECAST Time:2015-11-20 10:58:57
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