The Australian sharemarket staged a major turnaround in the latter half of the trading session to finish on a high,after Wall Street equities backed away from recent records.
KMD Brands’ share price has nosedived after revealing Kathmandu and Rip Curl’s sales have declined.
The owner of outdoor goods brand Kathmandu and surf retailer Rip Curl has posted record sales – but the global outlook is challenging.
Globetrotting holidaymakers are fuelling strong sales momentum,with the group’s boss bullish on bricks-and-mortar expansion plans despite economic uncertainty.
The chief executive of Kathmandu has warned the retailer may have to start raising its prices in certain markets as inflationary pressures batter the business.
A spokeswoman for Rip Curl’s parent company said as of last week it had ‘temporarily ceased supplying its products to Russia’.
The head of outdoors retailer Kathmandu is still positive on the outlook for the rest of the calendar year despite a weak start to the new financial year for the company.
The major outdoors retailer told investors it would not reach its predicted full-year sales and profit forecasts due to the NSW and WA lockdowns.
Once the domain of tech nerds and hikers,the puffer jacket has become part of the modern urban uniform. But this winter,it’s looking a little different.
David Kirk has defended Kathmandu’s decision not to repay $18.5 million in government grants and wage subsidies,saying the board did not want to cause more “pain” for shareholders.