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December, 2018 6:57 AM



Kathmandu shares jump 17% on strong sales

Kathmandu shares jump 17% on strong sales

Kathmandu's shares have soared after the adventure gear retailer reported a 7.1 per cent rise in Australian same store sales.

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By AAP 23.11.2018 10:40 AM

Kathmandu's shares have jumped nearly 17 per cent after the adventure gear retailer reported a 7.1 per cent rise in Australian same store sales.

Same store sales for the 15 weeks to November 11 grew 6.3 per cent across the company on a constant currency basis, with Australian operations the stand out performer.

Same store sales in New Zealand rose 5.2 per cent, while recently acquired US footwear brand Oboz is on track to hit its $US7.1 million earnings target for the 2018 calendar year.

"We have achieved good sales growth leading into the key Christmas trading period, and we expect first half profit to be strongly above last year," chief executive Xavier Simonet said in a statement released to the ASX on Friday.

"However, as always our first half-year result is highly dependent on the success of our summer sale."

Kathmandu said total sales growth, excluding Oboz, climbed 8.4 per cent.

Its shares were up 39 cents, or 16.8 per cent, to $2.71 at 1029 AEDT.

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