Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Kathmandu shares jump to 5-week high on upbeat outlook

Kathmandu shares jump to 5-week high on upbeat outlook for strong performance in full year

By Tina Morrison

May 7 (BusinessDesk) – Shares in Kathmandu Holdings jumped to a five-week high, making it the best performing stock on New Zealand’s benchmark NZX 50 Index, after the outdoor apparel retailer delivered an upbeat presentation about its outlook.

Kathmandu rose 6 percent to $3.90 and has gained 38 percent in the past 12 months. Third quarter sales rose 3.6 percent to $93 million as the retailer benefited from strong Easter sales, the company said in presentation notes for the Macquarie Australian Connections conference. Excluding changes in the exchange rate, sales rose 12.9 percent while the gross margin was in line with the prior year, the Christchurch-based company said.

Kathmandu, which sells outdoor clothing and equipment, said it remains confident of “a strong performance” for the full year, citing analyst expectations for a 3.8 percent rise in net profit to $45.9 million and a 5.5 percent increase in sales to $405 million.

The company revised up its store target for Australia and New Zealand to 180 from a previous aim of 170 based on the success of its new format, and said it is on track to open 15 new stores in the current financial year through July.

The winter sales period through June and July is Kathmandu’s largest annual promotional event and the company indicated the weather around this period was the key variable to its success. Easter sales benefited from late Easter holiday timing this year and a change to cooler weather in Australia and New Zealand, it said.

The stock is rated an average ‘buy’ according to analysts polled by Reuters.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news