KMD Brands bullish about Christmas after quarterly sales boost
Outdoor apparel retailer KMD Brands has reported sales boomed across its brands as trading conditions normalise on both sides of the Tasman.
For the 14 weeks to November 6, group sales rose 61.8 per cent compared to the same period last year with underlying operating profit increasing by nearly $27.33 million (NZ$30 million).
Sales through its flagship Kathmandu chain increased 107.2 per cent while Rip Curl registered a 29.7 per cent increase. With supply-chain challenges no longer a constraint, Oboz achieved a record first quarter in both wholesale and online sales.
Group CEO and MD Michael Daly described the results as “positive” and added gross margin and profitability of the business are holding up well.
“Looking forward, while current trading for our three brands is strong, we remain cautiously optimistic, with the potential of high inflation and rising interest rates impacting consumer sentiment in our key global markets.”
Comments are closed.