Covid wipes $135 million from Kathmandu revenue

Wed, 23 Sep 2020

Kathmandu Holdings says covid-19 store closures and the pandemic's impact on retail sales cost it about $135 million in lost revenue in the past year.The outdoor clothing and equipment retailer reported an underlying net profit of $31.5 million for the year ended July 31, down 44 percent from a year earlier. Statutory net profit was $8.9 million, which included an $18 million one-off transaction cost and $4.6 million in restructuring costs.Earnings before interest, tax, depreciation, and amortisation were down 15.3 percent to $83.4 million....

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZX gains 0.3% on busy day of earnings

Seven companies reported on Monday.

Gregor Thompson 5:58pm

Economy

RBNZ warns changes to capital requirements aren't silver bullet

RBNZ estimates a reduction of 6-10bps for Option 1 and 11-17bps for Option 2.

Rebecca Howard 12:35pm

RBNZ warns changes to capital requirements aren't silver bullet

Property

PFI boss expects NTA discount to close

Property for industry is trading at a 50-cent discount to the net value of its assets.

Gregor Thompson 12:10pm

Sponsored

AI efforts risk failure without clear business goals – Spark

It’s time for New Zealand businesses to move beyond AI experiments and start delivering measurable value.

Spark

Sponsored

The smarter way to invest in infrastructure

The global infrastructure ETF listed right here on NZX.

Blackrock, Smart Invest

More Retail

Retail

Kogan.com takes $51m goodwill hit on Mighty Ape

Kogan.com has written down A$46.3 million (NZ$51.2m) of goodwill tied to its New Zealand segment, Mighty Ape. The Australian retail and services group filed its earnings for the 12 months to June 30 with the Australian Securities Exchange (ASX) on Monday.Chief executive Ruslan K...

Staff reporters 3:45pm