KMD Brands will delay plans to sell Kathmandu outdoor clothing overseas and focus on repairing the fortunes of the local business after tumbling to a first-half loss.
The company behind Rip Curl surfwear and Oboz boots said trading was difficult in December and January, with sales and earnings declining steeply. The company’s chief executive, Michael Daly, described the results as “disappointing” and said Kathmandu had to introduce better products that resonated with consumers.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
