Kathmandu shares surge as investors take shine to Australian sales growth

Mon, 24 Mar 2014

By Suze Metherell March 24 (BusinessDesk) – Shares in Kathmandu Holdings’ jumped 8.4 percent, making them the best performer on New Zealand’s benchmark stock index today, as investors looked past the impact of the high kiwi dollar on first-half earnings to see sales growth in Australia, the retailer’s largest market. Kathmandu shares jumped 28 cents to a two-week high of $3.62. The company’s Australian unit, which accounts for almost two thirds of revenue, posted a 0.3 percent decline in sales to $103.1 million in the six months ended Jan. 3...

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