NZ's KMD Brands hits record low on reporting downbeat sales

KMD Brands

19/06/2025 24:22

** NZX-listed shares of KMD Brands KMD.NZ slip as much as 8.5% to NZ$0.270, hitting their record low

** Outdoor clothing retailer says FY25 YTD group sales are down 0.5%

** Expects the impact from U.S. tariffs to hit FY25 EBITDA by ~NZ$1 million ($602,900)

** 2 of the group's brands have major operations in the U.S., with wetsuit brand Rip Curl U.S. accounting for ~12%, and footwear brand Oboz U.S. ~7% of the group's annual sales

** Co sees FY25 underlying EBITDA to be in the range of NZ$15 million to NZ$25 mln

** Co last year posted underlying EBITDA of NZ$50 mln

** Shares hit their biggest intraday pct loss since January 20

** Stock down 39.3% YTD

($1 = 1.6586 New Zealand dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))