Shrinking EBIT results across brands widened the net loss attributable to shareholders by 107% to NZ$21,540,000 ($12.7 mm) from NZ$10,426,000 for the fiscal first half ended Jan. 31 on a 1% tick up in revenue to NZ$470,945,000 ($277.9 mm) over NZ$468,644,000. Enterprise gross margin contracted 30 b.p. to 58.5%, driven by higher promotional activity at Kathmandu and clearance at Oboz. SG&A was up 5%, deleveraging 200 b.p. 47.4% of sales from 45.4%, as selling expenses increased 7% and administrative and general expenses grew 2%.

Rip Curl sales were just north of flat ... Log in to view full article.