CEO musical chairs
There’s been CEO changes revealed at two mid-tier ASX companies, with a surprising common factor.
Read MoreTag: KMD
KMD Brands heads for major loss
NZ adventure-wear group, KMD Brands (ASX:KMD), is heading for a significant loss for the year to 31 July, despite a sales update showing a gradual improvement from the retailer’s mid-year slump.
Read MoreKMD Brands struggling
Outdoor clothing chain KMD Brands (formerly Kathmandu) has battened down the hatches with the end of the financial year in sight, as a sales recovery stalls and earnings slide.
Read MoreKMD 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.
Read MoreIs 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.
Read MoreKMD 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.
Read MoreKMD 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.
Read MoreBridge 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.
Read MoreKMD Brands Climbing Every Mountain
The end of Covid lockdowns and strong market recognition saw KMD Brands’ trio of labels – the original Kathmandu, Oboz and especially RipCurl – power to a record first half performance.
Read MoreMarket Murmurs: NUF, GNC, KMD
Three pretty upbeat stories from companies reporting to the market on Wednesday, with Nufarm, Graincorp and the erstwhile Kathmandu all seemingly in good shape.
Read MoreStock Snippets: ANZ, KMD
Wednesday’s ASX session saw ANZ Bank announce a deal to buy accounting software company MYOB, while retailer KMD Brands is still feeling the pinch from Covid-related lockdowns.
Read MoreStory of Two Halves this Year for KMD
KMD Brands met the downgraded guidance from its January 25 update yesterday, confirming that Covid had damaged revenues and earnings, but not returns to shareholders.
Read MoreKathmandu Consolidates into KMD Brands
Outdoors retailer Kathmandu has completed a rebranding to ‘KMD Brands’, of which it has a few, not to mention a new CEO looking to put his stamp on his new company.
Read MoreKathmandu Banking on Post-Lockdown Wanderlust
Outdoor gear retailer Kathmandu has confirmed the group’s sales have been hurt by the lockdowns in Eastern Australia, but sees an upturn with the staged re-openings in NSW and Victoria.
Read MoreKathmandu, Sigma Feeling the Pinch
Outdoor retailer Kathmandu and pharmacy group Sigma have both given early hints of the damage the lockdowns since June have done to some retailers, with both reporting weak sales and earnings.
Read MoreCovid Causes Kathmandu Profits to Take a Hike
Shares in outdoor retailer Kathmandu ended down 4% yesterday after it became the first company to issue a revenue and profit downgrade because of the renewed Covid threat.
Read MoreAfter Global CEO Search Kathmandu Promotes Internally
Kathmandu Holdings ran a global search for its new CEO to replace the departing Xavier Simonet and found the candidate at home – literally.
Read MoreKathmandu Shares Up 9% on Sturdy Earnings
NZ-based outdoors retailer Kathmandu has returned to paying dividends after reporting higher sales and profits in the first half.
Read MoreKathmandu CEO In Surprise Departure
The CEO of the NZ-based Kathmandu is set to leave the company to take the job as CEO of Austrade for the Australian government in what is a major surprise. Investors took fright on the news and the shares fell 5.3% to $1.16 in a completely understandable bout of nerves by the market.
Read MoreKMD – 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%.
Read MoreRip Curl Swells But Branded Store Sales Slip At Kathmandu
Investors didn’t like the first quarter sales update from outdoor and adventure wear retailer, Kathmandu despite some big numbers. The shares lost more than 4% to end the day at $1.265, despite topline sales rising 72% in the first quarter (to the end of October) as the contribution from the Rip Curl acquisition really kicked in.
Read MoreKMD – 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.
Read MoreRip Curl Deal Not Enough Save Kathmandu From COVID Wipeout
No dividends for the 2019-20 financial year for shareholders in retailer Kathmandu. The pandemic and lockdowns also meant the company got no real benefits from its expensive purchase of Rip Curl in 2019 though that did help boost revenues for the year to July 31.
Read MoreKMD – Macquarie rates the stock as Neutral
While website traffic and industry data have been positive, Macquarie is cautious about the medium-term.
Read MoreCautious Kathmandu Counts Cost Of Virus Shutdown
NZ-based Outdoors retailer Kathmandu looks like reporting a 30% fall in profits for the year to July and is not confident at all about prospects in the 2020-21 financial year starting August 1.
Read MoreKMD – 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.
Read MoreKathmandu Steps Up Plan To Reopen Stores
Outdoor wear retailer Kathmandu has stepped up the re-opening of outlets as its online sales continue to ban. The group has been slowly re-opening outlets in Australia and now wants to accelerate the pace to where most of its stores in Australia will be open and trading by the end of this week as the COVID-19 restrictions are eased.
Read MoreKathmandu, IDP Education Raisings Well Supported By Investors
Shares in IDP Education surged more than 20% yesterday after the struggling group raised a lot more money than originally planned. Kathmandu has also completed the institutional component of its deeply discounted $200 million capital raise, raising gross proceeds of around $NZ154 million ($150 million).
Read MoreOn Sale: Kathmandu Unveils Deeply Discounted Raising
Kathmandu (KMD) seems to have struck a snag with Briscoe Group, the largest shareholder deciding not to participate in the outdoor wear retailer’s emergency $NZ207 ($A201 million) capital raising.
Read MoreMore Retail Pain As Myer Leads Slew Of Shutdowns
More retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreVirus Turmoil: Oil Search, Flight Centre, Qantas, Kathmandu, REA Group, Ramsay Health, Aristocrat
Yesterday saw a host of downgrades and other poor news from ASX companies of all sizes – all understandable in the current terrible investment climate as the combination of the coronavirus pandemic and the idiotic price war in oil between Russia and Saudi Arabia wreck market confidence and share price.
Read MoreRip Curl Purchase Swells Sales For Kathmandu
NZ-based outdoor fashion retailer Kathmandu seems headed for one of the better results of the 2019-20 first half reporting season, thanks in part to its purchase of the RipCurl surf business.
Read MoreKMD – 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.
Read MoreBoot Maker Kicks Kathmandu Profit Higher
While Kiwi outdoor apparel retailer Kathmandu seems to have tracked down a vein of Aussie consumers who were ready to spend enough to boost the company’s earnings to record levels in the year to the end of July, the real boost came from the first full year contribution from US boot maker, Oboz.
Read MoreKMD – Credit Suisse rates the stock as Outperform
Operating earnings (EBITDA) were ahead of Credit Suisse forecasts. Growth appears robust but the broker notes the prior period did not include the Oboz business.
Read MoreKathmandu Stung By IT Data Breach
Shares in New Zealand-based outdoor clothing and equipment retailer Kathmandu fell more than 2% yesterday after revealed it was “urgently investigating” a suspected customer data breach of its trading websites.
Read MoreKathmandu Shrugs Off Retail Gloom With Record Result
NZ-based outdoor wear clothing retailer, Kathmandu Holdings Limited (ASX/NZX: KMD) will pay shareholders a record dividend after boosting net profit 33% to $NZ50.5 million for the year to July 31.
Read MoreKathmandu Hikes Into US Footwear Deal
Shares in outdoor clothing chain Kathmandu were halted yesterday to allow a multi million dollar fund raising to take place that will finance most of the acquisition of US footwear company Oboz for $US60 million ($78 million).
Read MoreStrong Christmas Sales See Kathmandu Upgrade
Kiwi-based outdoor wear retailer, Kathmandu has surprised with a sharp, 20% upgrade to profit guidance for the six months to January 21.
Read MoreKathmandu Rises Above Retail Malaise
NZ-based outdoor wear retailer, Kathmandu has shown up the likes of Premier Investments, Speciality Fashion and Myer in lifting earnings and sales (especially comparable or same store sales in Australia) in the year to July.
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