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

Kathmandu still battered by headwinds, reports $9.7m net loss
Michael Daly, KMD Brands chief executive said he was obviously disappointed. (Image: Supplied)
Gregor Thompson
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...

More Retail

Mighty Ape’s profits rise in quarterly update
Retail

Mighty Ape’s profits rise in quarterly update

 This growth came despite gross sales falling 9.2% to $30.4m.

Staff reporters 26 Apr 2024
Website duplication scams haunt NZ retailers
Retail

Website duplication scams haunt NZ retailers

Increasingly sophisticated obfuscation technology is making scams harder to resolve.

Gregor Thompson 22 Apr 2024
Menulog exits NZ
Retail

Menulog exits NZ

Online food delivery platform Menulog will discontinue its New Zealand operations in May.Parent company Just Eat Takeaway confirmed the decision today, saying: “New Zealand represents a small part of the Just Eat Takeaway.com business and its size is insufficient to maintain a he...

Staff reporters 16 Apr 2024
Grocery code now in full effect, ComCom reminds suppliers
Retail

Grocery code now in full effect, ComCom reminds suppliers

The Grocery Supply Code went into effect on March 28.

Staff reporters 16 Apr 2024