Kathmandu has had another positive turnaround reporting sales of NZ$56 million for the 15 weeks to 13 November 2011.

This is a 16 per cent rise compared with corresponding period last year. Meanwhile, same store sales grew by 7.6 per cent during the quarter, compared with a growth of 2.1 per cent in the first 16 weeks of last financial year.

Kathmandu’s CEO Peter Halkett said despite the difficult retail trading conditions, sales performance is in line with company expectations.

“Sales momentum has been steady and we have maintained gross margins. It must be noted however first half-year profit is highly dependent on the Christmas and January trading period,” he said.

The company also continues the rollout of its store refurbishment programme where it aims to open 15 new stores in the 2012 financial year, and two further new Australian stores are scheduled to open early next year and a number of other sites are under negotiation.

Before Christmas Kathmandu will be opening a new store in Warrnambool (Victoria), and relocating stores in Chatswood (Sydney) and Willis St (Wellington). The relocated Newmarket (Auckland) store is expected to open in February.

 “There are some significant relocations to larger, higher profile sites currently underway. Since 1 August we have opened new stores in Coastlands (Wellington) and The Palms (Christchurch), and we have relocated our store in Camberwell (Melbourne),” Halkett said.