Kathmandu optimistic

Kathmandu predicts a strong Christmas retail period for its outdoor gear as people "go back to basics" following the economic slowdown.

"We'd expect a relatively strong Christmas-to-January period because our products are camping-oriented," chief executive Peter Halkett said. "In tough economic times people do tend to go back to basics."

Halkett said Kathmandu, based in Christchurch, was the market leader in camping equipment and outdoor clothing in Australia and New Zealand, and the aim was to take advantage of that position to pursue growth.

The company has 79 stores in Australia and New Zealand and plans to open 12 new stores this year and up to 70 in three to five years, Halkett said.

Kathmandu stock closed unchanged at $2.23 yesterday.