Kathmandu Holdings

Strong sales growth in Australia has lifted outdoor clothing specialist Kathmandu's expectations for its first-half profit result.

Fortescue Metals Group has risen into the ranks of the top 50 most valuable companies on the Australian share market thanks to soaring iron ore prices which have nearly quadrupled the miner's half-year profit and stoked investor demand.

Strong winter sales growth in Australia and New Zealand has boosted outdoor clothing retailer Kathmandu's full-year profit by as much as 13.4 per cent.

Adventure gear retailer Kathmandu's annual profit has risen 13.5 per cent, thanks to strong sales, innovative products and cost cuts.

Kathmandu is rewarding staff after the outdoor equipment retailer's full-year profit surged almost a third to $NZ50.5 million ($46.3 million) thanks to a big jump in Australian sales.

Kathmandu's key Australian market appears to be weathering the retail chill, with sales of its signature puffer jackets helping offset a revenue decline in New Zealand and propel the company to a new full-year profit peak of $NZ57.63 million ($A53.3 million).

Iconic Aussie sportswear brand Rip Curl has agreed to be acquired by Kathmandu in a $350 million deal that will create a $1 billion Australasian surfing and outdoor adventure company.

Nine Entertainment, BlueScope Steel and more companies have joined the flood of listed firms cancelling their earnings forecasts as coronavirus chaos spreads.

Woolworths is creating 20,000 new jobs to meet a surge in demand but the list of companies shutting stores and standing down staff continues to grow.

Online travel agency Webjet will raise $275 million and retailer Kathmandu Holdings will raise $201 million, to deal with the impact of COVID-19 on their businesses.

Outdoor wear retailer Kathmandu has seen a surge in online sales in April but will open most of its stores in Australia by the end of this week as strict restrictions for COVID-19 are eased.

Just 37 per cent of shops at Western Australia’s biggest malls and main street retail strips are open for trade, laying bare the impact of the COVID-19 crisis on the retail sector.

Shares in Kathmandu have jumped after the outdoor wear retailer outlined a strong recovery in sales since reopening stores in May after coronavirus restrictions were eased in Australia and New Zealand.

Outdoor goods retailer Kathmandu says sales and earnings have been hit by recent coronavirus lockdowns in Australia, particularly in NSW and Victoria.