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Kathmandu Holdings Provides Market Update

02 Jul 2020  |  07:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Market Update

Kathmandu Holdings provided a trading update as retail gradually reopens in key global markets. As previously announced, COVID-19 social distancing and lockdown restrictions globally have impacted Group sales this financial year. Total Group sales for the 10 months ended 31 May 2020 were 15.1% below the comparable period last financial year1. However, since stores began reopening, retail store and online sales have generally exceeded management expectations, further strengthening Group liquidity. Wholesale sales for the period to the end of May 2020 have been substantially impacted by COVID-19, with their return to growth lagging retail sales as expected. Specifically, Rip Curl global wholesale sales were 26.0% below the comparable seven-month pre-ownership period last financial year.

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