NZ market flattens out as KMD Brands falls almost 5%

The S&P/NZX 50 Index fell 19.7 points, or 0.2% to 11,324.82. (Image: Supplied)

Wed, 20 Sep 2023

New Zealand's benchmark share index dipped slightly as investors waited to hear what the US Federal Reserve said after its two-day meeting came to an end early Thursday morning NZ time.Closer to home, outdoor and sports retailer KMD Brands told the market that group sales jumped 12.6% to $1.1 billion – up from $979.8 million a year earlier – and the stock fell almost 5% in response to a weaker outlook.The S&P/NZX 50 Index fell 19.7 points, or 0.2%, to 11,324.82. Turnover was $105.2 million. There were 57 gainers and 74 decli...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}