Kathmandu full-year profit halves as discounting cuts margins, recovery seen in 2016

Mon, 28 Sep 2015

By Jonathan Underhill Sept. 29 (BusinessDesk) - Kathmandu Holdings, the outdoor clothing retailer that spurned a takeover offer this year, reported net profit about halved because of "aggressive" discounting to shift surplus stock and weak demand in Australia. It affirmed guidance for a rebound in 2016 while announcing the exit from the UK market. Profit was $20.4 million in the year ended July 31, from $42.2 million a year earlier, the Christchurch-based company said in a statement. Sales rose to $409.4 million from $392.9 million a yea...

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