Craig Barrett (Ngāti Maniapoto) has been appointed as a director of Tainui Group Holdings. Barrett replaces former politician and broadcaster Tukoroirangi (Tuku) Morgan (Tainui), who had been in the role since 2021. Morgan was recently re-elected for a second term as chair of Te Arataura, the executive entity for Waikato-Tainui.
Currently a partner at Baker Tilly Staples Rodway, Barrett is also a member of the Institute of Directors and holds several trustee and directorship roles, including as chair of Maniapoto Māori Trust Board, chair of Puniu River Care, and director of Te Waka: Waikato’s regional economic development agency.
KMD Brands has recorded a statutory net loss of $9.2 million for the first half of its 2024 financial year, down from a profit of $14m year on year.
The NZX and ASX listed retailer behind Kathmandu, Rip Curl, and Oboz reported results for the six months ended January 31, 2024.
Group sales were down 14.5% to $468.6m from $547.9m, while its statutory earnings before interest, taxes, depreciation, and amortisation (ebitda) had decreased about 29% to more than $64m from over $90m year on year.
No dividend was recorded, down from a dividend of three cents per share during the previous corresponding period.
KMD Brands managing director Michael Daly said the company continued to experience consumer sentiment weakness, with sales down across all three brands.
Sales trends across all three brands were noted to have improved moving into the second half. While group sales for February were 3.5% below the year prior, February was not considered a significant trading month.