KMD Brands shares jump on update, but analysts remain cautious

KMD Brands owns Kathmandu, Rip Curl and Oboz Footwear. (Image: Supplied)

Tue, 20 Aug 2024

KMD Brands shares rose after the retailer announced sales are improving and retained its full-year guidance. Shares briefly climbed 12% to 55 cents and last traded up 6% at 52 cents.In an unaudited preliminary trading update on the New Zealand Exchange (NZX) for the year to July 31, the group, which included Kathmandu, Rip Curl and Oboz Footwear, reported a 5% decline in final-quarter sales compared with the prior comparable period.This compares with an 11.1% decline in the third quarter and a 14.5% contraction in the first half of the yea...

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