The bottom line swung to a loss attributable to shareholders of NZ$5,883,000 ($4.1 mm) in the fiscal first half ended Jan. 31 from income of NZ$22,279,000 on revenue that was down 1% to NZ$407,304,000 ($283.0 mm) from NZ$410,713,000. Gross margin contracted 130 b.p. to 57.7% on higher international freight costs and increased clearance mix for the Kathmandu brand. SG&A increased 9%, expanding 390 b.p. as a percentage of sales, on higher marketing spend and lower government wage assistance and rent abatements compared to the prior year.

Sales at the core Kathmandu brand slipped 1% to NZ$128.3 million as it continued to ... Log in to view full article.