What’s behind camping store’s sudden Mackay closure
A transnational retailer has cut its losses with Mackay, choosing to shut up shop when the lease expired than pin their hopes of a change.
Adventure apparel retailer Kathmandu failed to meet its performance expectations at its Caneland Central location, with the parent company Kathmandu Holdings opting to close the store as the lease expired.
“The store did not perform to expectations, even before COVID-19 disruptions, therefore the decision was made to not renew the lease,” a corporate spokeswoman said.
“Kathmandu has no commitment to open a new store at this stage.”
Kathmandu Holdings, which also owns iconic outdoor clothing brands such as Rip Curl, reported a half-year total group sales up about 12 per cent to the six months to the end of January this year.
The brand was created in 1987 and Kathmandu Holdings was formed in 2009 as a publicly listed company, acquiring Oboz in 2018 and Rip Curl in 2019.
“Rip Curl’s summer product focus also has helped to diversify Kathmandu’s historic weighting towards winter product categories,” the Kathmandu Holdings CEO’s address to shareholders in November 2020 stated.
“Our expanded portfolio of brands provides us with opportunities to leverage common sourcing, supply chain and systems, and work is well under way to deliver operational excellence in these areas.
“The second half of the 2020 financial year presented many challenges given the COVID-19 pandemic.”