NZ's KMD Brands gains on annual sales growth despite COVID-19 impacts

KMD Brands

13/07/2022 03:33

** Shares of KMD Brands  KMD.NZ  rise as much as 2.7% to
NZ$1.13, hitting highest since June 29
    ** The travel equipment retailer says it expects to achieve
sales between NZ$955 mln ($584.27 mln) and NZ$965 mln ($590.39
mln) for FY22  urn:newsml:reuters.com:*:nFWN2YT3UX
    ** KMD posts its biggest intra-day pct gain since June 16
    ** New Zealand-based retailer says that while COVID-19
caused some store closures, trading conditions have improved
    ** Co says it recorded a 7.3% rise in same-store sales over
the year that it largely attributes to promotions during the
winter season
    ** Says it is "well-positioned" for growth as global travel
recovers and COVID-19 impacts on consumer behaviour and supply
chains ease
    ** Stock down 27.6% YTD, as of last close 
    



($1 = 1.6345 New Zealand dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))