Forsyth Barr keeps 'outperform' rating for KMD Brands

KMD Brands' stable includes the Rip Curl surfwear brand. (Image: NZME)

Mon, 25 Sep 2023

Forsyth Barr says while there were a few “bright spots” in KMD Brands’ full-year earnings, the backdrop and outlook were negative on balance for the outdoor retailer.Forbarr analysts Margaret Bei and Andy Bowley lowered their near-term earnings forecasts for KMD Brands “modestly” due primarily to higher costs from a higher 2023 full-year base.“KMD reported consumer demand challenges, cost pressures, and an underwhelming August 2023 trading which was broadly in line with retailer peers,” they said a...

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