16 Nov 2012

Kathmandu shares lift, but Christmas is key

7:13 pm on 16 November 2012

Shares in retailer Kathmandu have risen 12 cents to $1.85 as the company says it has had a strong start to the year with its sales ahead of expectations, particularly in Australia.

The clothing and equipment business says group sales were up 20% to $70 million for the 15 weeks to 11 November, compared with the same period last year.

Sales at stores open at least a year, a key indicator, rose 14%.

Kathmandu says it is trading well despite the subdued economic conditions, but its growth depends on the Christmas trading period.

The company's opened six new stores in Australia since last Christmas, and a further three stores will be trading before the end of the year.

Kathmandu says it plans to open a total of 15 new stores this financial year.