Our attention this morning is on Kathmandu (ASX:KMD)
Our attention this morning is on Kathmandu (ASX:KMD). KMD announced group sales through June, and in particular since the start of the company's winter sales promotion, have been impacted by unseasonal warm weather. The impact has been felt in both Australia and New Zealand. KMD now estimates EBIT for the 11 months to end-June will be 10-15% below pcp. Unseasonal weather is a key risk in KMD's business, particularly through winter, which is the company's largest promotional period. Yesterday, the share price fell by 12%. We believe this an opportunity to build exposure to a retailer that has a strong business model and attractive medium/long term growth prospects.
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