Business
Store closures, travel bans squeeze Kathmandu – The Australian Financial Review
The COVID-19 second wave dented Kathmandu’s hopes that a renewed focus on fitness and more local tourism would boost sales of surfing and trekking goods.
However, direct-to-consumer same-store sales, including online sales, for the 16 weeks to November 15 fell 24.1 per cent, with Rip Curl sales down 1.7 per cent (compared with sales pre-acquisition) and Kathmandu sales down 37.7 per cent.
Even after excluding stores closed in Melbourne and Auckland, same-store direct-to-consumer sales fell 7.6 per cent, with a 26.8 per cent drop in Kathmandu sales offsetting a 26.8 per cent increase in Rip Curl sales.
Online sales across the group for the 16 weeks…
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