KMD Brands posts ‘mixed’ trading update ahead of AGM

Work on Kathmandu is “starting to show signs of bearing fruit”, analyst Paul Koraua says. (Image: Jason Oxenham)

Tue, 19 Nov 2024

A KMD Brands quarterly sales update shows parts of the operation emerging from their slump, Forsyth Barr retail analyst Paul Koraua says.Ahead of its annual general meeting on Tuesday, the parent company of Kathmandu, Rip Curl and Oboz reported sales fell 5.8% in the three months to the end of October compared with the same period last year.Shares fell 1.12% to 42 cents after the company said Rip Curl sales decreased 6.7% and Kathmandu's were down 2.7%.However, KMD Brands' group gross margin was above last year's level.Overall,...

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