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

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
Easter trading laws could be repealed
Retail

Easter trading laws could be repealed

Bill drawn from ballot would allow shops to open on Good Friday and Easter Sunday.

John Anthony 11 Apr 2024
Kogan appoints new Mighty Ape CEO
Retail

Kogan appoints new Mighty Ape CEO

Daniel Balasoglou replaces Gracie MacKinlay in the top job.

Staff reporters 08 Apr 2024