Overview

• An investor presentation outlines plans to shut 14 additional stores in the next financial year and to open six locations, including three new Kathmandu flagship concept stores.
• The latest move follows a separate decision earlier this month to close 21 stores as part of an organisational restructure.
• KMD Brands reported a statutory loss of NZ$93.6 million for FY2025, with underlying net losses widening to NZ$28.3 million as group sales inched up 1 percent.
• Management attributed the deterioration to weak trading conditions and heavy discounting that compressed margins across its Kathmandu, Rip Curl and Oboz brands.
• Trading at the start of FY2026 showed signs of improvement, with August sales up 10.5 percent, Kathmandu same-store sales up 22 percent in the first seven weeks and Rip Curl direct-to-customer sales down 1.2 percent but same-store sales up 1.5 percent.