KMD
26/08/2015 16:14
GENERAL
PRICE SENSITIVE
REL: 1614 HRS Kathmandu Holdings Limited
GENERAL: KMD: KMD: Kathmandu Announces Structural Review
KATHMANDU HOLDINGS LIMITED
ASX/NZX/MEDIA ANNOUNCEMENT
26 August 2015
Kathmandu Announces Structural Review
Kathmandu Holdings (ASX/NZX: KMD) today announced an immediate review of its
Head Office structure.
The company will closely review costs and structures in recognition of a
significant reduction in profitability in FY2015, compared to FY2014 and
previous years.
Kathmandu expects the review may result in reduction of up to ten per cent of
employees in its Australian and New Zealand Head Offices.
Kathmandu's Chief Executive Xavier Simonet said the company was taking
decisive action to address the recent underperformance in sales and profit
and was looking at all areas of the business.
"I am confident the outcome of the review will enable us to continue to
invest in our growth strategies and deliver improved results for our
shareholders, "Mr Simonet said.
The company has already identified a number of key areas to improve
performance, including:
o Increased efficiencies with cost reductions in all areas of the business
o Increased focus on innovative and distinctive products
o The optimisation of the existing store network
o The activation of Summit Club members
o Improved digital and social media communication, and omni-channel trading
functionality
o Leveraging the capabilities of new systems and infrastructure
o The identification of international opportunities through a capital-light
model and leveraging of the online platform
Mr Simonet said by focusing on these areas the future potential of the
Kathmandu brand could be realised.
The review will be completed by the end of September.
Please direct media enquiries to:
Helen McCombie at Citadel
+ 61 2 9290 3073
End CA:00269122 For:KMD Type:GENERAL Time:2015-08-26 16:14:53
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