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Article Date: September 2023
Word Count: 360

KMD Brands’ Profit Slips despite Double-Digit Top Line Gains

Net income for the fiscal year ended July 31 inched down 1% to NZ$36,614,000 ($22.6 mm) from NZ$36,828,000 on revenue that improved 13% to NZ$1,102,994,000 ($682.1 mm) from NZ$979,802,000. The group posted growth across all key geographies, with Rip Curl and Oboz hitting record sales. Rising brick-and-mortar traffic sent direct-to-consumer retail sales up 18% and wholesale up 11%. While the return to stores did siphon dollars away from online, the channel remains significantly above pre-pandemic levels. Gross margin improved 20 b.p. to 59.1% on channel mix, wholesale pricing and international freight ... Log in to view full article.


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