Kathmandu, Rip Curl owner zips up jump in sales
Consumers are being more careful with their spending but Kathmandu, Rip Curl and Oboz footwear owner KMD Brands says sales still grew by double-digits in the third quarter.
The outdoor goods retailer said on Thursday group sales were up 15.6 per cent from February 23 to April 23 and were up 27.7 per cent in the nine months to April 23.
Rip Curl sales rose 7.9 per cent in the quarter, Kathmandu sales jumped 11.3 per cent and Oboz boots sales were up 120.3 per cent.
Gross margins were resilient through the quarter, KMD Brands said.
Online sales in the 12 months to January were 14.1 per cent of all direct-to-consumer sales, at $NZ108.5m.
Online sales are down from the record levels during the pandemic, as stores have reopened, but have stabilised about two-thirds above their 2019/20 pre-COVID levels, KMD said.
The group has a long-term target of online comprising one-quarter of all direct-to-consumer sales.
"We now begin our key Kathmandu winter and Northern Hemisphere summer trading periods," said group CEO and managing director Michael Daly.
"The group is well positioned to benefit from the return of international travel and tourism and is continuing to invest in the long-term international expansion of our brands."
At 3pm AEST, KMD shares were up 2.4 per cent to $1.06.