Sales slump 11% at Kathmandu owner KMD Brands

(Image: NZME)

Wed, 25 Sep 2024

Sales at Kathmandu owner KMD Brands slumped by 11%, with all three of its brands feeling the effect of weak consumer confidence in its latest financial year.Total group sales fell from $1.1 billion in the year to July 31, 2023, to $979.4 million in FY24, a drop of 11.2%.The company had a statutory net profit after tax (npat) decline of $48.3m for FY24, including a one-off non-cash impairment on the goodwill of its shoe brand Oboz of $40.3m.Its underlying net profit still declined by $1.1m for FY24.Earnings before interest and tax...

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