Kathmandu still battered by headwinds, reports $9.7m net loss

Michael Daly, KMD Brands chief executive said he was obviously disappointed. (Image: Supplied)

Tue, 19 Mar 2024

KMD Brands' chief executive, Michael Daly, told BusinessDesk he is “obviously disappointed” after his company reported a significant sales drop in half-year earnings on Tuesday and scaled back sales targets.The company, which owns the Kathmandu, Rip Curl and Oboz footwear brands, reported that profits decreased nearly 170% to a $9.7 million loss after revenue fell to $468m, down 14.5% compared with the six months to Jan 31, 2023.The market largely anticipated the result after a Feb 20 sales update for the six months to Jan 31 di...

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