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Article Date: March 2024
Word Count: 317

KMD Brands Swings to Loss on Broad-Based Declines


Falling sales at Kathmandu, Rip Curl and Oboz contributed to a difficult first half that resulted in a net loss attributable to shareholders of NZ$10,426,000 ($6.4 mm) against a profit of NZ$13,159,000 for the period ended Jan. 31. Overall revenues declined 14% to NZ$468,644,000 ($287.7 mm) from NZ$547,924,000. KMD worked hard to rein in spending with a restructuring implemented last year, reducing selling expenses by 10% and administration and general expenses by 6%, but total SG&A still deleveraged 310 basis points on the lower sales. Blended gross margin inched up 10 ... Log in to view full article.

 


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