Outdoor clothing and equipment retailer Kathmandu Holdings' profits have been significantly hit by the recent round of Covid lockdowns in New Zealand and Australia.
Kathmandu same store sales were down nearly 18 percent. Photo: RNZ / Nate McKinnon
It expected the first quarter operating profit ended September to be down $35 million on last year's, as lockdowns in New South Wales, Victoria, ACT and New Zealand were more severe than last year.
Rip Curl same store sales fell more than 9 percent and down nearly 18 percent for Kathmandu.
Online sales grew strongly with Rip Curl sales rising a third and Kathmandu's up 58 percent.
The company said it was ready to make the most of Black Friday and Christmas trading, with overall trading expected to improve in the second half ending in June, as markets reopened.