Overview

• KMD is reviewing more than 328 company-owned stores and has identified closures across the Kathmandu and Rip Curl networks.
• Management set a goal to strip about NZ$25 million from annual costs under its Next Level transformation strategy.
• More than 10 senior roles have changed over the past 18 months as the board reshaped leadership under CEO Brent Scrimshaw.
• Selective expansion continues with new Rip Curl outlets planned along Mediterranean coasts and three Kathmandu concept stores in Australia and New Zealand this year.
• After a NZ$20.7m first-half loss and amended covenants on roughly NZ$70m of debt, KMD cautioned sales down 0.5%, will report full-year results on September 24, and saw shares up 4.6% to 23 cents though down 39.5% in 2025.