The new Covid-related retail lockdowns in Australia have negatively affected the profitability of Kathmandu Holdings, whose assets include Rip Curl. Its guidance for the financial year ending July 31 has been reduced to underlying Ebitda of 120 million New Zealand dollars (€71.3m-$84.1m) on revenues of NZ$ 930 million (€552m-$651m), which would compare with Ebitda of NZ$ 83.4 million and sales of NZ$ 801.7 million in the previous year. After a positive start to the winter selling season, a two-week lockdown in the state of Victoria in early June impacted 62 stores. The Australian lockdown policies also forced 40 stores in New South Wales to stay shut through the second week of July and 26 stores in Western Australia to shutter through July 3. Specifically, the lockdowns in Victoria and South Wales knocked off full-year Ebitda by NZ$ 13 million. The damage in Western Australia has not yet been fully assessed.