Kathmandu raises annual profit forecast; shares jump 16%

Wed, 29 Jun 2016

By Tina Morrison June 30 (BusinessDesk) - Kathmandu Holdings raised its forecast for annual earnings as the outdoor equipment chain boosts margins from new products, better management of promotional activity and cost savings. Its shares jumped 16 percent. The Christchurch-based retailer expects net profit of $32 million to $35 million in the year ending July 31, ahead of its previous forecast of $30.2 million and up from $20.4 million last year, it said in a statement. Same-store sales have increased 2.6 percent in the 47 weeks ended June...

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