KMD Brands takes a dive
Kiwi-based sportswear retailer KMD Brands (ASX:KMD) has confirmed the weak guidance issued a month ago for a slump in sales and a big loss for the half year to the end of January.
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Kmd Brands Limited
The Kathmandu brand was born in 1987. Kathmandu Holdings formed in 2009 as a publicly listed company. Together with the acquisition of Oboz (2018) and Rip Curl (2019), Kathmandu Holdings has transformed from a leading Australasian retailer to a brand-led global multi-channel business.
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News
Is KMD Brands falling victim to global warming?
La Niña and its heavy rainfall transitioned to a brief El Niño in the latter half of 2023. However, since December, storms, cyclones, and heavy showers across much of the east and north of the country suggest a potential return to La Niña.
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KMD Brands achieves record revenue
KMD Brands (ASX:KMD), formerly known as Kathmandu, celebrated a milestone as it exceeded NZ$1 billion in annual revenue for the first time ever.
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KMD Brands warns of consumer spending slowdown
12 Jul 2023 - Sports and outdoor goods retailer KMD Brands (ASX:KMD) has issued a warning about a slowdown in consumer spending, aligning with similar concerns expressed by other ASX retailers.
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Bridge Street Bites: AAC, KMD
Positive spins from the country’s biggest beef operator and the erstwhile Kathmandu, with both ending higher in Thursday's trading session.
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Analyst Views
KMD – Credit Suisse rates the stock as Outperform
In the first quarter same-store sales growth for Rip Curl was 26.8%, with Kathmandu down -26.8%, wholesale down -14.4% and online up 37.0%.
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KMD – Macquarie rates the stock as Neutral
FY20 results were ahead of expectations, supported by cost controls and government assistance. Wholesale order books for Rip Curl and Oboz are improving for the second half and the Kathmandu brand will resume offshore expansion post the pandemic.
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KMD – Macquarie rates the stock as Neutral
While website traffic and industry data have been positive, Macquarie is cautious about the medium-term.
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KMD – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Following a short restriction (from just ahead of the pandemic outbreak), Credit Suisse resumes coverage, upgrading to Outperform from Neutral, and reducing the target to NZ$1.40 from NZ$3.65.
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KMD – Credit Suisse rates the stock as Downgrade to Neutral from Outperform
FY19 net profit was at the top end of guidance and above forecasts. Credit Suisse found the results solid, reflecting the full year impact of the Oboz acquisition as well as operating efficiencies.
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