Kathmandu downgrade points to soft period for retailers

Kathmandu downgrade points to soft period for retailers. Kathmandu is reporting a slowdown in sales growth after a subdued start to Christmas shopping in its Australian market. Kathmandu (KMD) expects Australia to remain tough for some time and is reassessing its sales and pricing strategy for the second half of the 2015 year and beyond. The company will experience a substantial reduction in the gross profit earnings in the pre-Christmas Day trading period compared to the equivalent period in FY2014. Kathmandu anticipates any recovery in trading from now till 31 January 2015 will not be sufficient to make up the shortfall in gross profit experienced to date in 1H 2015. Full release here: (VIEW LINK)