Net profit: Down $23.7m to a statutory loss of $9.7m
Key takeaway: A tough six months hindered by destocking trends, physical expansion strategies will be pivoted toward new product lines and targeted third-party brand expansion.
An ongoing period of retailer destocking has continued to dampen KMD’s results but just when that pivot into a restocking phase will eventuate remains in the air.
This morning, KMD Brands – the retailer behind Kathmandu, Rip Curl, and Oboz – reported interim earnings for its 2024 fiscal year,
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Key points
Revenue: Up 14.5% to $468.6m
Net profit: Down $23.7m to a statutory loss of $9.7m
Key takeaway: A tough six months hindered by destocking trends, physical expansion strategies will be pivoted toward new product lines and targeted third-party brand expansion.
