KMD Brands, formerly Kathmandu Holdings, is now forecasting total annual sales of NZ$955 to NZ$965 million (€580.7m to €586.8m) for the 12 months ending July 31 after a record performance during a winter promotional period for its Kathmandu retail operation. FY22 Ebitda, excluding one-off, non-cash items, including government subsidies, is forecast at NZ$88-$94 million (€55.5-€57.2m).
Rip Curl is continuing to trade strongly across retail and wholesale channels, KMD said, and wholesale demand for Oboz products “remains significantly above pre-Covid levels.” Same-store year-to-date sales for both Rip Curl and the Kathmandu brand are positive, despite “significant Covid impacts on retail,” the company said, and year-to-date DTC same-store sales (including online) for the 49 weeks to July 10 were up 2.1 percent for Rip Curl and +7.3 percent for Kathmandu. Second half gross margins are “well above the comparable year-ago period due to currency benefit and promotional execution.
Meanwhile, Oboz is continuing to recover from a three-month closure of Vietnam factories in the first half, shipping congestion and international freight delays. The business has received approximately 200,000 pairs of footwear over the past two months, as suppliers have resumed full production.
