Outdoor retailer Kathmandu has reported a 14.5% decline in total sales for the 2024 financial year.
The company's preliminary unaudited results, released today, revealed a continued improvement in sales for its Rip Curl and Kathmandu brands during the third and fourth quarters of the financial year.
However, Kathmandu's sales in New Zealand were significantly weaker than in Australia, with a 16.5% decline compared to the previous year.
The group's underlying earnings before interest, tax, depreciation, and amortisation (ebitda) for FY24 are expected to be in the range of $49 million to $51m.
Kathmandu's audited results will be released on Sept 25.
At the end of July 2024, the company had net debt of $60m and funding headroom of approximately $230m.
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