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Kathmandu lifts third-quarter sales

NZN 3/05/2017 Paul McBeth

Outdoor equipment chain Kathmandu has seen a lift in third-quarter sales of 9.3 per cent - attributing the gain to new product lines and better promotions.

The Christchurch-based retailer increased group sales 9.3 per cent in the 13 weeks ended April 30, and said sales were up 12 per cent on a constant currency basis, without providing more detail.

Kathmandu's increased sales were bolstered by new product performance and improved promotional execution, it said in presentation slides lodged with the NZX.

In March, the retailer beat first-half guidance, reporting profit of $10 million on a 0.2 per cent increase in sales to $196 million.

The company has bounced back from an earnings slump in 2016, when an inventory build-up forced it into aggressive discounting at low margins to clear stock.

Kathmandu on Thursday said the upcoming winter sale in June and July is "key to the full-year result".

The shares rose 4 per cent to $2.10, having gained 3.6 per cent so far this year.

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