KMD plunges almost 20% after bad trading update

KMD plunges almost 20% after bad trading update
KMD hits new low
Ian Llewellyn
KMD Brands’ shares plunged almost 20% to a new low shortly after it announced another drop in sales.The retail company, which has the Rip Curl and Kathmandu brands, told the market its preliminary results for the half year ended Jan 31 would indicate group sales will be approximately $469m, -14.5% below last year, reflecting “ongoing weakness in consumer sentiment”.Prior to Covid, KMD had been trading as high as $2.51. Shares then plunged to 48.9 cents as the pandemic hit.KMD recovered to above the $1.60 mark in June 2021...

More Retail

Country Road loses court battle over duties
Retail

Country Road loses court battle over duties

Country Road has been ordered to retroactively pay $2.5 million in duties and GST.

Foodstuffs alleges defamation over merger opinion piece
Retail

Foodstuffs alleges defamation over merger opinion piece

Chapman Tripp lawyers sent letters to the University of Auckland and Stuff.

Brave-faced craft chocolate industry finds strength in unity
Retail

Brave-faced craft chocolate industry finds strength in unity

More than 30 boutique chocolate companies raised the bar at Chocstock.

Gregor Thompson 01 Jul 2024
No further divestment plans for SkyCity after GiG sale
Retail

No further divestment plans for SkyCity after GiG sale

SkyCity has no further divestment plans after selling its GiG shareholdings.

Tom Raynel 26 Jun 2024