Business
Kathmandu hopes for recovery after COVID hits its sales – Sydney Morning Herald
Outdoors apparel retailer Kathmandu is hoping its sales will rebound strongly through spring and summer after the company weathered a brutal year due to the COVID-19 pandemic.
As a result, the company did not declare a dividend for the year.
The result beat analyst expectations, who had predicted the business would report revenue of $735 million for the year and net profit of about $27.8 million.
Chief executive Xavier Simonet said the year had been a “transformational” one for the retailer due to the Rip Curl acquisition, but COVID-19 had thrown up a number of unexpected challenges.
“We took decisive action early to reduce costs, adjust the operating structure of …
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