The new CEO - Xavier Simonet stepping in should help with this.
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Looks like Fishing Camping and Outdoors are closing down ? or is this just a creative sales pitch and they're moving online only, don't know ?
But if correct and they are closing their 13 retails stores this might help KMD shareholders a bit. That said it looks like sales in Aussie where they have most of their stores are still soft for KMD and all the signs are there that conditions will remain challenging for retail in Australia. Plenty of risk left in this puppy IMHO.
http://www.fco.co.nz/#PR_ONSALE
Bottom line is that although this result was within previously indicated guidelines the market doesn't like it and the stock is now down quite significantly (circa 8.5% at time of this amended comment). The market appears to have been wanting to see a clearly articulated / revised strategy to meet changing retail conditions. Maybe Mr market expected a cessation to the store roll-out until profitability has been restored ?
This slide from their presentation suggests that it isn't just this half year being the problem
Wow look at that declining same store growth chart I have circled. Suggests something fundamentally wrong /not working
At least it is still positive but with declining margins doesn't paint a healthy picture. No wonder the share price has taken another dive today
The new leader has an enormous task ..... good luck to him, he needs it methinks
Hi Winner, the thing that jumped out at me in the HY report, was they stated that: our Xmas trading and sales through January did not produce the sales we expected, our analysis tells us that contributing factors included, "promotional campaigns did not drive the expected foot traffic".
My concern it that they also say their 2016 focus in on increasing on-line sales, a valid part of the business, but with most retailers still stating about 95% of revenues still come from inshore sales, this is no golden egg?
Mobile-centric marketing and increased personalization is the way big retailers are going. The demographic of KMD's customer's would probably suit the products Vmob has to offer, as shareholders it may be worth mentioning.
Wallace D (not Holding, but monitoring)
They are closing all 13 NZ stores, as previously posted:
http://www.nzherald.co.nz/business/n...ectid=11404628
12.4% drop today. A bit of a bigger drop than I expected.
She'll be right. Mr Xavier Simonet's extensive experience with women's handbags will add a much needed feminine touch to Kathmandu and bring more ladies to the shops.
disc: holding