KMD - Kathmandu

[Entrep]

Results not out until end of September. More slow bleed until then?

[Waltzing]

"More slow bleed until then'

hope so...

[BlackPeter]

ACC submitting SSH notice -

https://www.nzx.com/announcements/377746

Some selling and buying, but they ended up with above 5%.

Still - I thought as well, they look reasonably priced - Maybe it will be not just HLG and WHS benefitting from the expected retail dollar tsunami - who knows?.

[Entrep]

Once Aussie open up (ie get vaccination to 70/80%) this will rocket again. I've been buying more.

[calledone]

I think this may have possibility of more downside but yes I’ve started nibbling as well.

[Shareguy]

I have had this company on my watch list for a long time and thought with the carnage that Covid has created would mean an attractive entry point. So far the share price Has held up pretty good considering so many of the stores have been closed for a long time, especially in Australia. I’m expecting another profit downgrade soon. Am I missing something here?

[calledone]

I have had this company on my watch list for a long time and thought with the carnage that Covid has created would mean an attractive entry point. So far the share price Has held up pretty good considering so many of the stores have been closed for a long time, especially in Australia. I’m expecting another profit downgrade soon. Am I missing something here?

Yeah possible profit downgrade if the case numbers are not coming down by spring but I think ripcurl and obos may not be affected that much by our lockdown since rest of the world is opening up. Anyway, I think if you get these in the NZ$1.15 and $1.25 range it will be a very good long term buy.

Disc: currently ~15% of my portfolio.

[BlackPeter]

I have had this company on my watch list for a long time and thought with the carnage that Covid has created would mean an attractive entry point. So far the share price Has held up pretty good considering so many of the stores have been closed for a long time, especially in Australia. I’m expecting another profit downgrade soon. Am I missing something here?

Not quite sure - even last year (with plentiful lockdowns) was not a too bad year for them, but a terribly timed capital rise - wasn't it? So why do you expect this (actually - which?) year to be that bad?

BTW - FY 21 already ended 31. July - they still need to report, but they better don't downgrade on that ... and for FY 2022 there are no forecasts out, i.e. no downgrade needed.

Looking at the impact of the lock downs - sure - some shops are closed, others are not and last time sales picked up quite satisfactory after the lock down ending. As well - there still is the internet - and actually, I think their online store (while still no match for HLG) did improve : https://www.kathmandu.co.nz/ ;

Discl: holding a (medium-sized) position;

[Shareguy]

Good points Blackpeter thanks I am watching with interest . Think thier products Kat and Rip are market leaders. Will wait and see , not going to enter at this price though.

[Grimy]

Their web site and online ordering works well, they ship quickly (even in L4 I got some clothing within two days, which I wasn't really expecting until L3). They enclose printed return labels in case they are needed, so it's all very easy and customer focussed.
And they keep sending out vouchers for birthdays, accumulated spend, etc. On top of their Summit Club discounts and clearance lines I sometimes wonder how they make a profit as after applying discounts I never seem to have to pay much at all for their gear......