Kathmandu, a major outdoor retailer in New Zealand and Australia, plans to open flagship stores in the US and Canada to further boost its international presence. The plans, announced as the retailer reported first-half results, comes as the retailer recently opened four stores in the UK in high-profile locations in a similar strategy.
According to the Sydney Morning Herald, “Kathmandu plans to replicate the strategy of global fast fashion retailers, using a small number of bricks and mortar stores to raise brand awareness and drive consumers to its online sites.”
In the half, Group sales rose 1 percent to $NZ167.6 million ($144.3 mm) although same-store sales at actual exchange rates fell 3.5 percent. On a currency-neutral basis, group sales rose 10.5 percent and same-store sales rose 5.4 percent, similar to that in 2013.
First-half profits increased 10.7 percent increase in first-half net profit to $NZ11.4 million (9.8 mm). On a currency-neutral basis, profits were ahead 15 percent.
