Analysts cautious on Kiwi retailer KMD Brands on soft trading conditions

KMD Brands

21/09/2023 04:49

** KMD Brands's ASX shares  KMD.AX  up 1.4% at A$0.745,
following a 4.5% drop on Weds on reporting disappointing results
    ** The New Zealand's outdoor, lifestyle, and sports retailer
said Aug sales fell 6.4%, while FY profit was subdued
    ** Macquarie says weak Aug sales supports cautious view and
it continues to expect EBITDA margins lagging ~15% target in
medium-term
    ** Macquarie cuts PT to A$0.70 from A$0.90, retains
"neutral" rating, while Morgan Stanley retains "equal-weight"
rating and A$0.90 price target
    ** KMD down about 23% YTD

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))