blowing OCA out the door. what a stunner and that 15 year old rip curl orange top is as good as the day it was purchased.
Had the best polar neck surf long sleeve's.
Rip it Up.
Printable View
blowing OCA out the door. what a stunner and that 15 year old rip curl orange top is as good as the day it was purchased.
Had the best polar neck surf long sleeve's.
Rip it Up.
Trading Update and Investor Day Presentation - NZX, New Zealand’s Exchange
November 2021
(All amounts in NZ$ unless otherwise stated)
Kathmandu Holdings Q1 earnings impacted by COVID lockdowns
Kathmandu Holdings Limited (NZX / ASX: KMD) (the Group) today provides the following trading update in conjunction with a virtual investor day being held for institutional shareholders.
Same store sales (including online) for the 13 full weeks to 31 October 2021 were significantly impacted by ongoing Australasian COVID lockdowns:
•Rip Curl -9.4% overall, +1.6% adjusted for COVID lockdowns (1)
•Kathmandu -17.6% overall, +16.3% adjusted for COVID lockdowns (1)
Pleasingly, online sales have grown strongly at +33.8%, with Rip Curl +11.2% and Kathmandu +58.4%.
As previously signalled, COVID lockdowns have significantly impacted Q1 results. Net COVID impact is expected to result in Q1 operating profit being c.$35 million below last year as lockdowns in NSW, Victoria, ACT and NZ were more severe than prior comparative period, without any direct Government subsidies recognised to date in FY22. Recently the Group has seen positive momentum in the short period following the reopening of NSW and Victoria markets, notably for Rip Curl which is cycling +27% same store sales growth adjusted for COVID lockdowns (1) from Q1 FY21.
Rip Curl and Kathmandu are well prepared for the key Black Friday and Christmas trading period, and inventory remains sufficient to meet expected demand. Due to the uncertain COVID trading environment the Group will not provide forward guidance, however as markets reopen, trading is expected to improve with growth opportunity in the second half of FY22.
Rip Curl and Oboz wholesale order books remain significantly above pre-COVID levels. The Group is actively managing ongoing supply chain disruption globally, particularly impacting the timely flow of products into our North American markets. Oboz product deliveries will be impacted for Q2 as Vietnam footwear factories slowly ramp up production following COVID closures during Q1. Demand for Rip Curl wetsuits continues to exceed available supply. Freight, logistics and raw material costs remain elevated as the outlook for supply chain remains challenging. This will be managed where possible through pricing and raw material substitution.
Commenting on trading, Group CEO Michael Daly said:
“COVID-19 continued to be a major disruption in the first quarter, with Australasian retail stores significantly impacted by lockdowns, and supply chain disruption impacting our ability to fulfil strong wholesale demand. Despite the challenging trading conditions to date, we are ready to capitalise on growth opportunities as COVID restrictions ease. The Group continues to invest in the long-term expansion of our global house of outdoor brands.”
INVESTOR DAY PRESENTATION
Please see attached a copy of today's Investor Day presentation.
- ENDS -
With summer coming those Rip Curl products will be in big demand.
KMD did OK with JobKeeper in Oz
At the end No doubt made on the deal
Market not liking the trading update. Lets hope the 12EMA holds.
12 week exponential moving average. Have found it to often be a good indicator for short mid term trends.
Combined with 200 day EMA. Which is generally more indicative of longer term trends. Often when a stock crosses it's 200 day EMA it can be considered a technical signal that a reversal of previous trend may have occurred.
There's heaps of info on it you can dig up. Combined of course with momentum, and various other indicators, fibonacci retrenchment is also handy to overlay on your charts. Human nature in trading following trends can be quite helpful and insightful. Heaaappps to learn though. Only delve into it if you seriously have the time.
To be honest the stock market seems to be less about investing in the actual company than it use to be, with all the recent funds that have poured into shares due to money no longer having been kept in banks (with such low interest rates relative to inflation).
A good one to take a look at is PEB currently. Almost 10% down off recent Cap Raise due to a large volume of shares needing to be sold off with a new director and previous retiring (after a life long career). Almost 20% off recent uptrending highs of 1.59. Entry point at 1.20-1.25 where it has touched on today. Seems like bids are accumulating on the support side for entry or top up. Upside bounce possible off such sharp sell down.
Technicals are indicating a sell on the weekly (so a little short term risk involved) but monthly is a buy. Good upside potential with relatively low risk at this entry point in our opinion.
Disc - This is not investment advice and always do your own research.
.. bought the little yellow beach shelter X2 for surf trips and Xmas presents.. central hamilton shop almost empty of customers and only one of them scanned with the app on the way in..
Chart looks side ways for a while..ONeil, the longer the line stays flat the high the break out...
Hey waltzing man - your 141 target got hit today
Clean them out of the depth did you?
missed buying at the bottom, busy placing orders in one of the trading companies for AUS Flight Centre....5 Years time imagine the pent up tourist desire... Continent fever... Only thing is how will the Chinese get out of the Lock up Kingdom.. Apparently some younger party goers photo shot themselves under LA signs...The last time CCP locked up china currency exchange assets they simply bought suite cases full of gift cards....
Another possible sell off coming tomorrow as dow futures drop 400
not really enough to do much damage..
damage is what you want..lots of it...
Fascinating article featuring Rip Curl and its first female CEO
https://www.smh.com.au/business/comp...09-p5977t.html
who didnt own the white polar neck rip curl long sleeve in the 90's..
surfs up!!!!!
https://www.youtube.com/watch?v=MP0-j8VxMJA
Gonna be a Wipe Out (for others, not KMD)
Watch "Surfaris - Wipe Out" on YouTube
https://youtu.be/p13yZAjhU0M
Got to try and be positive about business and markets. Its a whole new decade.
I always find this guy very interesting
https://navellier.com/wp-content/upl...er-21-2021.m4a
Disagree. Will follow KMDASX lead. NSW looking like has already reached Omicron peak, will then follow same trend as Sth Africa, post peak hospitalisation/cases will drop quickly and steadily. The other states will be a bit further behind, will likely see late Jan early Feb when will see the change. Positivity will regain in the local ASX market once optimism resumes with more positive figure sand news updates. KMD current levels at 1.41 should be seen as a buying entry opportunity. Topping up more to our portfolios.
I topped up today at $1.41. Looks to me like a good price, time will tell.
anyone else hold fire till Oz opens to trade this one?
Product placement par excellence on 1news winter Olympics reporter
Solid trading update. https://www.nzx.com/announcements/387109
annoying that all these statements have a different format.
these are multi national companies and these releases are formatted for text terminals.
PDF actually has tag able objects that can allow for machine reading..
How many more decades of this junk will there be.
Might be solid greekwatchdog --- but what a messy update --- the only number that made sense was H1 sales were likely to be $405m which is slightly less than last year but GM going to be a lot less.
Then you takes your pick of what ebitda might be - seems to be a few different measures
Suppose they trying to convey the future is all bright ...so no worries
From that rather hard to make much sense of update the other day it does seem that Q2 was pretty good for them
Rip Curl after 13 weeks were -9.40% on pcp but after 26 weeks were -1.60% on pcp
Kathmandu after 13 weeks were -17.60% on pcp but after 26 weeks were +2.80% on pcp
Last 13 weeks must have been pretty positive ... hard to est how much because I don't know the sales split q1/q2
Maybe we will see share price at that guru analysts target of 175 sooner than later
" but what a messy update"
junk....
had an orange rip curl top for 20 years and looks like new.. some of that early stuff was pretty good.
Anyone holding out for a Div from KMD in May ? :)
Any advances on 1c at best - Zero at worst ? ;)
Change of name!! :sleep:
Change of Name to KMD Brands Limited - NZX, New Zealand’s Exchange
CHANGE OF NAME TO KMD BRANDS LIMITED
Kathmandu Holdings Limited (NZX / ASX: KMD) announces that it will undertake a name change to KMD Brands Limited.
The new name will take effect from 16 March 2022. The NZX and ASX ticker will remain as KMD. The ISIN will remain unchanged as NZKMDE0001S3.
An announcement to launch KMD Brands, its purpose and vision, will be made on 16th March 2022.
Tent and camping gear sales must be strong this year after the number that were burnt and damaged in todays shambles?
KMD changes name to reflect the group’s vision - NZX, New Zealand’s Exchange
Highlights:
• Kathmandu Holdings Limited now trading as KMD Brands
Limited
• Refreshed corporate strategy and identity to drive KMD
Brands into the next phase of its growth
• ASX / NZX tickers remain unchanged as ‘KMD’
Leading global outdoor, lifestyle and sports company, KMD Brands Limited (ASX: KMD, ‘KMD’ or the ‘Company’), today begins trading under its new name ‘KMD Brands’ (formerly Kathmandu Holdings) as it executes the rollout of its refreshed corporate strategy and group vision.
Refreshed corporate strategy
The new parent company name and refreshed strategy brings KMD’s brands together under an overarching corporate identity, harnessing the Company’s evolution over the past 35 years.
The corporate strategy consists of four key pillars - building global brands, elevating digital, leveraging operational excellence, and showcasing leadership in ESG – which are designed to support KMD’s growth as a brand-led global multi-channel business.
Since the acquisition of Oboz and Rip Curl, the Company has been looking to distinguish the holding company from the Kathmandu brand. The change to KMD Brands is an outward sign of the transformation that has occurred within the group in recent years and its future strategy, while still acknowledging its history.
KMD Brands Group CEO, Michael Daly said:
“We are building global brands, including growing Rip Curl in North America, and making it the pre-eminent surf brand in Australasia. We are launching Kathmandu into North America and Europe highlighting its Australasian heritage and harnessing the specialist leadership and values that Oboz is known for in North America to grow into Australasia and then Europe.”
A focus on improving digital execution by investing in whole-of-group platforms that support unified customer experience and commerce operations is a key feature of the KMD Brands’ strategy. This is supported by the launch of new and improved loyalty programs to allow personalised communications.
Operational excellence programmes that accelerate cross-brand opportunities through optimising the supply chain, harnessing core-system upgrades and product innovation enable each brand’s products to lead in their respective categories.
By extending Kathmandu’s B Corp accreditation to Rip Curl and Oboz and setting Science Based Targets aligned with the Paris Climate Agreement, KMD Brands will strengthen its ESG leadership position in the sector globally.
Michael Daly said:
“Our new company name, KMD Brands, heralds an exciting time for the group as we evolve into a leading family of global outdoor brands that are renowned for quality, innovation and sustainability.”
New Purpose and Vision
As part of the change of Company name, a new purpose and vision statement for the group has been established. KMD’s vision is to be the leading family of global outdoor brands – designed for purpose, driven by innovation, best for people and planet. As the parent company, KMD brings vision and strategic guidance to enable group synergies and to create more than the sum of the parts of its individual brands.
Michael Daly said:
“Our purpose is to inspire people to explore and love the outdoors. All our brands are focussed on supporting, enhancing and encouraging activities for the outdoor consumer.”
The Company has also developed a new logo for KMD Brands and designed creative assets which will feature across its investor website and investor presentation materials, including textured designs representing the sky, land and sea.
ENDS
2 years ago the breakdown of tourism was pretty bad for Kathmandu ... less people to buy and use all this amazing outdoor gear.
Just wondering whether the return of tourism will have the opposite effect?
Obviously - the views of market analysts have just entertainment value unless we agree with them, but still - the three market analysts on market screener call KMD a "BUY" with a target price of $1.67 ... and Share Clarities DCF is $1.89; Backward PE is 7.7 and forward PE is 11.8 (though EPS per share dropped - has something to do with the Cap Rise at the start of Covid).
Dividend yield at the moment 4.7% and divi well might rise ... should be enough compensation to wait for the positive effects of tourism kicking in.
big surf week in the BOP going right through to sunday 3 to 5 foot.
just missing those tourist seeking sun and surf.
rip curl surfing gear still in fashion.
KMD Brands Limited
Announcement
as at 09:34:04, Wednesday 23 March, 2022 (NZDT)
1H FY2022 Interim Results
KMD
23/03/2022 09:34
HALFYR
PRICE SENSITIVE
REL: 0934 HRS KMD Brands Limited
HALFYR: KMD: 1H FY2022 Interim Results
KMD Brands Limited
ASX / NZX / Media Announcement
23 March 2022
(All amounts in NZ$ unless otherwise stated)
Strategic initiatives position KMD Brands for return to global growth
Leading global outdoor, lifestyle and sports company, KMD Brands Limited (ASX
/ NZX: KMD, 'KMD' or the 'Company'), is pleased to announce its results for
the six months ended 31 January 2022 (1H FY22).
1H FY22 key highlights (vs 1H FY21):
o Sales of $407.3 million (1H FY21: $410.7 million)
- - positive Q2 rebound following Q1 COVID lockdown impacts on Kathmandu and
Rip Curl in Australasia
- - Oboz impacted by COVID closure of Vietnam factories (now reopened)
o Gross margin of 57.7% (1H FY21: 59.0%), due to elevated international
freight costs, and increased clearance mix for the Kathmandu brand
o Underlying EBITDA of $10.2 million (1H FY21: $48.2 million) (excluding the
impact of IFRS 16)
o Statutory NPAT loss of $(5.5) million
o Strong balance sheet with $48.6 million net debt and comfortably within all
covenants; significant funding headroom of c.$250 million
o Interim dividend increased by 50% to 3.0 cents per share (fully franked for
Australian shareholders)
Commenting on the 1H FY22 results, Group CEO & Managing Director Michael Daly
said:
"We continued to deliver on our strategic objectives, positioning KMD Brands
for growth as travel rebounds globally and COVID-related impacts on supply
abate. We maintained a strong focus on building our global brands,
sponsoring the first ever World Surf League finals, with the men's event won
by a Rip Curl surfer. We opened twelve new owned / licensed retail stores
globally, and online sales increased to 17.4% of direct-to-consumer sales,
rewarding initiatives to elevate digital capabilities. Substantial progress
was also achieved on our ESG strategy."
"Rip Curl delivered sales growth of 2.7% over the half, with strong sales
growth in online and wholesale channels, underpinned by strong performance in
Europe and Hawaii in particular, while North America was impacted by
short-term wetsuit shortages and port congestion. Rip Curl returned to same
store sales growth in Q2, as lockdown restrictions lifted and the business
rebounded."
"The Kathmandu Australasian store network was more impacted by COVID closures
in Q1 than the Rip Curl global store network, before recovering strongly in
Q2. While Kathmandu continued to feel the impacts of COVID related travel
restrictions, we were pleased to see a 46.4% increase in online sales, and
the business is well positioned to grow internationally, with the Europe Fall
/ Winter 22 sell-in complete, and forward orders in line with expectations."
"Oboz was impacted by the closure of Vietnam supplier factories due to COVID
lockdowns, with approximately half of 1H FY22 orders unable to be fulfilled.
However, the demand for the Oboz brand and products has never been stronger,
with forward orders into FY23 very strong and supporting our medium-term
growth targets."
"Our rebranding to KMD Brands earlier this month reflects our purpose to
inspire people to explore and love the outdoors, with a vision of being the
leading family of global outdoor brands - designed for purpose, driven by
innovation, best for people and planet. It is with this ethos in mind that we
look to develop our portfolio of global brands, underpinned by investments
that deliver a world-class unified commerce experience, and our commitment to
operational excellence and leadership in ESG."
The following are attached in relation to KMD Brands Limited's Interim Result
for the period to 31 January 2022:
1. Results Announcement
2. Media Announcement
3. Interim Financial Statements for the six months ended 31 January 2022 and
the Independent Auditors Review Report
4. Investors Presentation
5. Distribution Notice
Investor briefing
An investor call will be hosted by Michael Daly (Group CEO) and Chris Kinraid
(Group CFO) at 8.30am AEDT / 10:30am NZDT today,
Wednesday 23 March 2022. For those wishing to participate, please dial one of
the numbers below and provide the conference ID to the operator:
Australia Toll Free: 1800 590 693
Australia Local: +61 3 8317 0929
New Zealand Toll Free: 0800 423 972
United States: 800 289 0459
Conference ID: 177616
- ENDS -
For further information, please contact:
Investors
Eric Kuret
Market Eye
P: +61 417 311 335
E: eric.kuret@marketeye.com.au
Media
Helen McCombie
Citadel-MAGNUS
P: + 61 2 8234 0103
End CA:00389338 For:KMD Type:HALFYR Time:2022-03-23 09:34:07
The trading and pricing information that appears on this website is provided by the New Zealand Exchange and the Australian Stock Exchange, and is subject to contractual arrangements that expressly prohibit the redistribution of such trading and pricing information. Any redistribution, by any party, constitutes a breach of the Internet Access Terms applying to this website.
Been a tough six months. Directors have nonetheless increased the dividend by 50 percent to 3cps
obviously feel this coming year FY23 is going to see them back in profit.
usually buy a big travel trolley bag for accessories and sports equipment.
still got the same gear from 2019....
havnt bought anything from KMD except a big surf beach dual designed tent umbrella..
cant see this share going anywhere for a while.
cant see its safe to travel by air anywhere yet if you value your VO2 Max.
most high performance athletes will still be in hiding or have retired if there is even going to be a next Olympics..
On 23 Feb I sold virtually all of my holding at 1.33 each. There has been no movement in the month since, which is good that the sp has held firm. The bad news is out of the way and hopefully sales and profits will ramp up. GLTAH
This company has had an especially difficult time of it during the Covid period. Lots of optimistic noises from management and they even paid a large dividend despite losing money in the latest interim period.
My analysis:
https://recastinvestor.substack.com/...-brands-kmdnzx
Thanks for sharing Recaster and nice work.
3 things that possibly require further comment:
1) How is the latest dividends being funded? Is operating cashflow enough to cover the dividend? Or is this being funded out of debt?**
2) Inventories have increased on reduced sales. Does this mean there will be inventory provision problems in future? Or is there a trend we are not seeing in just the last 2 years?
3) Why did the Kathmandu segment make a loss? I am surprised by that.
Another thing that would be good to see in your analysis is how we get from Revenues to EBIT, at both the total and operating division levels, i.e. Revenues less Variable Costs (being COGS & selling & dist. costs if published) gives gross margin less overheads (admin, depreciation etc) gives EBIT with YoY % changes like the rest of the P&L. That will provide insights as to issues with margins and/or overheads etc.
Nice work. Keep it up!
**I see you touched on this in your analysis. Given debts were also reduced in that period, the historical dividend was paid from cash reserves. Given operating cash flow was negative without the prior dividend payment, then the next dividend is coming from cash again, or being funded by debt. That raises questions around sustainability of future dividends.
Look over priced at present and maybe they expect a big bounce back FY23.
Anyone remember the following announcement:
1 April 2020 to strengthen their balance - what got paid back that they had on board then ?
http://nzx-prod-s7fsd7f98s.s3-websit...066/320084.pdf
Quote:
Equity Raising highlights
• Kathmandu Holdings is taking pre-emptive action to fortify its balance sheet in conjunction with the
aggressive and significant cost savings and structural cost reduction initiatives the Group is implementing
in response to the global COVID-19 pandemic (COVID-19).
• The Group has launched a fully underwritten $207 million Equity Raising at an offer price of $0.50 per share
via a $30 million Placement to certain institutional investors, together with an approximately $177 million
1.2 for 1 pro-rata accelerated Entitlement Offer (together, the Equity Raising).
• Post-raising, the Group will be strongly capitalised through the current market uncertainties caused by the
global COVID-19 pandemic.
Kathmandu Holdings has announced that it intends to raise approximately $207 million to strengthen its balance
sheet and ensure the Group is strongly capitalised through the current market uncertainties caused by COVID19.
Any guesses on why there is mayhem in the KMD engine room ?
ie: Sell Product in volume, Make good margin, optimise retailing expenses to produce a glowing bottom line
Wasn't a fair chunk of debt supposed to be gone with last Cap Raise ?
Or did more get reborrowed courtesy of trying to bridge the Covid troughs on a hope ?
Buying screw up issues, Supply issues ? Store costs issues ? Natural events ? Time to start weeding out poor performing store issues, or other issues ?
With Inventory management systems etc today, these guys should in real time how their weeks & months
are going - make no mistake about that :)
If Management don't get on top of it - another Cap Raise ? or worse perhaps ?
Do Board have it in them to navigate in anything other than smooth waters fully provisioned
with heaps of stakeholder loot stashed away ? Sure any amount of money in kitty can at times
come handy to fog over glaring issues in the lower decks, until things become really telling..
Perhaps the older inhouse store brands are getting a bit tired - some possibly should have been retired
with the last acquisition, which for sure is showing up the lesser performing ones it joined onboard :)
In case of a further CR who wants to throw a further handful of bucks at something that has already
swallowed a fair bundle and the Board still haven't come up with results to suggest everything is sailing
smoothly, is under control , but instead may be sailing close to the wind Dividend/profitability wise ??
Thanks so much Ferg for the comments and encouragement. It's appreciated!
I'm transitioning from credit analysis to equity analysis and there are differences.
I'll amend my analysis to take into account your suggestions (which are all excellent) and provide the extra information in future analyses.
Cheers.
"In case of a further CR "
next 6 months will tell but not sure KMD will return to anything like pre C until tourism is big again?
Yep the P&L looks like it took a hit alright.
KMD a bit of a dogs breakfast, has been for years.
Should have let Rod Duke buy it and shareholders get shares in BGP. Would have worked out far far better for them.
Worst nzx retail stock!
Wonder if MHJ want to lend KMD their expert on "how to breathe life into a Dog hobbling along on three legs" ? ;)
Step 1: New CEO and CFO
Step 2: Close all non performing stores
Step 3: Stop gimmicky promotions
Step 4: Incentivize sales team with new commission structure
Step 5: Appoint online guru to leadership team to massively grow online sales
Step 6: Bring in guru chairman Fyfe
Step 7: Build massive cash pile with all time high margins
Step 8: Blow massive cash pile on silly acquisition in NA or Europe
Step 9: See step 1 lol
Updated analysis to take into account comments and suggestions from Sharetrader members:
https://recastinvestor.substack.com/...-brands-kmdnzx
KMD market cap still less than what is was in late 2019
Must mean something
Couple of large volume sells through today, anyone happen to know who the seller is, several million shares. Due to not having many buyers in market today has subsequently driven the SP down pretty low. Buying opportunity possibly now!? Thoughts guys?
RSI sub 30, oversold signalling buying op, who's on board?
Means their share price is bio-degradable, just like their new jackets.
Kathmandu NZ
Yeah did you catch the bounce back, up 5% so far in an afternoon trade, happy with that.
Maybe John Harvey selling out holdings. Hmmm in that case might not be done, could well be more to follow. Will need to check on his current holdings.
if so repeat...
1. Sell now
2. Take the 5-7% days profits (if noted oversold RSI post earlier)
3. Wait for the next parcel volume sell, either at close today or in the following day or 2. Buy back in on the threshold of dip likely ~1.10-1.13 - if not finished and second subsequent sell down follows.
4. Take profits and repeat
KMD Brands Trading Update
Quote:
o Record performance in Kathmandu's key winter promotional period.
o Rip Curl continues to trade strongly across retail and wholesale channels.
o Oboz suppliers have resumed full production following COVID-related factory
closures, and inventory levels are recovering. Wholesale demand for Oboz
products remains significantly above pre-COVID levels.
o Retail trade in Australasia was impacted by the Omicron outbreak,
particularly during the third quarter.
o Underlying FY22 EBITDA (1) is expected to be in the range of $88 million to
$94 million, and underlying EBIT (2) $53 million to $59 million.
KMD Brands Limited (ASX/NZX: KMD, "KMD" or the "Company") provides the
following update on trading performance for the year ending 31 July 2022
("FY22").
Total sales are expected to be in the range of $955 million to $965 million.
Underlying EBITDA (1) is expected to be in the range of $88 million to $94
million, with underlying EBIT (2) in the range of $53 million to $59 million.
As previously communicated, the year-on-year impact of COVID on first half
EBITDA was approximately $35 million. Trading conditions have improved in the
second half, however COVID continued to impact footfall, particularly in the
third quarter, and caused sporadic store closures due to staff availability.
Same store sales year-to-date ("YTD") remain positive for both Rip Curl and
Kathmandu, despite the significant COVID impacts on retail. YTD direct to
consumer ("DTC") same store sales (including online) for the 49 full weeks to
10 July 2022:
Same Store Sales YTD
Rip Curl +2.1%
Kathmandu +7.3%
Group CEO and Managing Director Michael Daly said:
"Rip Curl's wholesale and direct-to-consumer retail channels continue to
perform well. Wholesale order books are above prior year levels as we look
forward to next year."
"Pleasingly, Kathmandu has experienced a record winter promotional period in
Australia. Second half gross margins are well above last year due to a
combination of currency benefit and updated promotional execution. Trading in
New Zealand was weaker than in Australia reflecting lower growth in consumer
footfall and revenues, offset by improved gross margins reflecting the
deliberate strategy to carefully moderate the historic "high-low" pricing
model. While Q3 was impacted by the ongoing COVID outbreak in both counties,
Q4 profitability is expected to be above pre-COVID levels absent of any new
government restrictions."
"Oboz is recovering from the three-month COVID closure of Vietnam factories
in the first half, compounded by shipping congestion and international
freight delays. Oboz has received approximately two hundred thousand pairs of
footwear in the past two months, as suppliers resumed full production.
Additional supply has been secured for future seasons to meet order book
demand."
"Inventory levels are forecast to be above last year, reflecting decisions
taken in the light of ongoing supply chain disruption, to accelerate orders
to meet forward wholesale orders and expected retail demand. Inventory
quality remains high, with depth in carry forward styles, and lower clearance
levels year on year."
"The Group continues to target our long-term objective of 0.5x net debt to
underlying EBITDA."
"We continue to deliver on our objectives to grow KMD into the leading family
of global outdoor brands by elevating digital infrastructure and the consumer
experience, leveraging operational excellence, and being a leader in ESG. KMD
is well positioned for growth as travel rebounds globally, and COVID impacts
on consumer behaviour and international supply chains ease."
better pay attention and run the number as winner(n>=n) will have his digital business math calculator running almost as fast as a GPU...
looks fully priced in already.
Never a positive reflection on share price when CEO resigns. Low SP looking likely may continue to decline further, ouch. Are we going to see $1 level tested next!? Guess it depends on the Aus market and retail outlook there as that's where heaviest trading lays. Market open and close ASX will be interesting for KMD today and this week.
Looking like its been establishing its boots and holding support at 1.08. Even in the midst of todays poor retail news coming out of the states have solid buy volume at 1.11. which would indicate a pending upward trend. Fact that SP didnt breakdown through 1.08 today and bucks general market daily momentum would indicate a rise. Any traders online noticing the same that wish to comment?
charts looks like a slow train wreck... and the bottom should at the dollar mark.
P/E suggests it fully priced for slow growth and the DIV is actually higher than it should be
you would need to have a good look at the consolidated cash flow statement and see how much and where was the div financed from and cant remember the numbers off hand
there are simply to many companies to check financial health this year.
winner usually has these numbers to hand.
Unlikely will see those levels, SP it's currently still down 50 to 60% from pre pandemic. Those investors and traders still looking to catch a 'bargain' still have eyes on picking up stocks for solid returns when it recovers. Everything is cyclical, the KMD group are still well positioned, not going to disappear far too established. There will be enough support ready to pounce on these low SP's as soon as any uptick in more positive outlooks. Seems to have formed a pretty solid support level where it currently is 1.08. Even amongst the previous weeks poor news events, one after the other yet SP has held steady. SP has more upside gains than down from where it is currently positioned.
certainly if we look at E1 and E2 coming in as markets update announcement predicts its a tab undervalued and over sold.
Agreed St% 14.3.3, RSI hovering around 40. VIX and offshore markets showing more positive signs. KMD SP buying opportunity for a comfortable 10% gain once breaks through resistance 1.11/1.12
Interesting:
CFO gets a big payout .... 227,000 + shares as conversion of performance rights.
https://announcements.nzx.com/detail/397050
Lets hope he is earning his keep.
Its only a matter of time BP, KMS sitting at current SP has found its floor, only one way for this stock to go here forth, pretty sure bet holding or entering at this current level low teens.
Seems a bit stuck in a traders holding pattern, buying selling 1.09 -1.12, making a few % on the minor swing movements and repeating. Need a break through of this level to move past this pattern then will be some more solid gains on the way back up..
the underlying chart pattern looks across 5 years to be a flattening here....
she flat as a pancake at the MO... summer coming to end across the NH and that only leave the SH for RIP curl...
Doco "Girls cant Surf" ....
A week or so to results and share price slip sliding away
Could be sub $1 at rate it’s going
Didn’t a guru broker analyst have a $1.75 target on this not long ago?
Must have changed it --- marketscreener has 3 targets - $1.40 - $1.60
Something not right here
Retail getting a hammering on CNBC ... Uk retail down clothing taking a hit....
chart showed 170 high was 166...
now it cash is king ... deposit rates going up and that could mean selling of any and all stocks that are not staples..
gas spiking over night dutch futures showing an expected high in nov and december contracts.
gas contracts for 2023 dropping off.
Waltz ….what’s up with KMD share price
Surely worth more than buck with all the good Rip Curl is going to bring
Result out today I think
Won’t be that good but they’ll paint a bright outlook
Could be so bright the share price will rocket to $1.20 ..that’ll be cool
Those guru analysts can’t be wrong with their targets over $1.50
Sorry, meant to post yesterday as on open you might miss out on the real cheap shares at the Dollar Store
Well, if results are out today, than they certainly take their time. Too much coin to count?
Anyway - just noticed that NZ Superfund recently backed up another truck and filled them with KMD on special.
http://nzx-prod-s7fsd7f98s.s3-websit...432/378591.pdf
Hey - if the smart money is buying, what could go wrong?
https://www.nzx.com/announcements/399077
FY22 key highlights (vs FY21):
• Group sales up 6.2% to $979.8 million, a record for KMD Brands
o Continued growth in Rip Curl sales, highest-ever Kathmandu sales in Q4, and record order demand for Oboz products
• Gross margin maintained at 58.9% despite input cost pressure
• Underlying EBITDA of $92.0 million reflects the impact of Q1 Australasian lockdowns and Oboz supply chain COVID disruption
o Record second half Group sales and underlying EBITDA
• Statutory NPAT of $36.8 million; Underlying NPAT(1) of $36.2 million
• Strong balance sheet position supports investment in organic brand growth
• Final dividend of 3 cents per share (fully franked for Australian shareholders); total FY22 dividend of 6 cents per share represents a record $42.5 million dividends declared in FY22
OK - a quite solid result, though we should not get too excited - either:
Inventory up, Receivables up and Intangibles up ... hmm.
RoE of 4.3 % isn't yet ready for the Guinness Book of records either, and in the combination with the high intangibles one could wonder, whether they paid too much for their intangibles, couldn't one?
Anyway - dividend (6 cts for the year) is amazing (considering the share price) and higher than their earnings for the year (5.1 cts per share), so board must be really optimistic.
Better not check the cashflow statements ... but hey,
NTA did go up by more than 10% ... (this is good :) ) reaching an outstanding 18.5 cents per share ( :eek2: ); Ah, well ...
what possibly could go wrong?
Imagine what will happen when thing get back to normal....
cheap but they did pay to much for the brands...
women on the pro tour now get much higher prize money
Surfing is big on some parts of the french coast..
a classic to check out how long they have been surfing in france is never ending summer 2.
endless summer 2....
expect this to sell off under a dollar ; start averging in now...
sellers moving in ....
Read ok then? looks like it... big summer coming for down under..bordes open and maybe some europeans wanting to escape a horrible winter up north?
surfing by october this year then... crikey...
https://www.stuff.co.nz/national/300...ave-on-the-way
America and Europe - here we come!
CEO does not lack ambitions:
https://www.nzherald.co.nz/business/...3BURBREUOW4DOE
(probably paywalled)
Strategy, though sounds sensible:
Quote:
KMD Brands chief executive Michael Daly said the launch into North America and Europe would remain small initially while it tested demand. All going well, he said Kathmandu planned to follow with retail store openings to complement its e-commerce strategy.
The company has its eyes set on large cities that appeal to its active outdoor consumer, locations such as Vancouver in Canada, Denver in America and Munich in Germany, for flagship retail locations.
"It is very much a soft launch [at this stage] focusing on 20 to 25 select influential outdoor accounts to test our concept and give us confidence for future expanded distribution. We're focusing on wholesale and online at the moment in Europe and Canada, and likewise when we launch in the US later this year," Daly told the Herald.
I'm just waiting for the day they branch out to Nepal........Kathmandu in Kathmandu!! :p;)