KMD Brands, the name behind Rip Curl and Kathmandu, blamed a 14.5 per cent drop in first half sales on weak consumer sentiment and warmer weather in Australia, which dented sales of puffer jackets and raincoats.
The dual-listed group said on Tuesday that sales totalled $NZ469 million ($441 million) in the six months ended January 31, ahead of formalising its interim earnings due on March 19. KMD shares tumbled 10.3 per cent to an all-time low 52¢.
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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
