KMD Sees Progress with Turnaround Plan
The Rip Curl, Kathmandu, and Oboz parent said that sales are expected to total between NZ$1,040 and NZ$1,044 million ($609 mm at the midpoint) for FY26, which ends July 31, up around 5% from the year before. Direct-to-consumer same-store and e-commerce sales for Rip Curl dwindled 3% for the 24 weeks ended July 19, but Kathmandu improved by 5%. Kathmandu was driven by rainwear, fleece and base layer, but insulation was down due to unseasonably warm weather on Australia’s east coast. New Zealand consistently outperforms the Land Down Under. Rip Curl ... Log in to view full article.