Latest news with #KMD
Arab Times
26-06-2025
- Climate
- Arab Times
Kuwait set for 49°C weekend with dust, heat, choppy seas
KUWAIT CITY, June 26: Kuwait is set to experience extremely hot weather during the day and hot to warm conditions at night throughout the upcoming weekend, according to the Kuwait Meteorological Department (KMD). Dharar Al-Ali, Acting Director of the KMD, said the country will be affected by an extension of the Indian monsoon depression, bringing a hot and dry air mass. The weather will also be impacted by light to moderate northwesterly winds, which are expected to become active at times, stirring dust storms in open areas and causing high sea waves. On Thursday, the daytime weather is forecast to be very hot with northwesterly to variable winds blowing at speeds between 12 and 45 kilometers per hour. There is a possibility of dust storms in exposed areas along with some scattered clouds. Maximum temperatures are expected to range between 46°C and 48°C, and sea conditions will be light to moderate with wave heights between 1 and 5 feet. Thursday night will remain hot, with northwesterly to variable winds at speeds of 10 to 35 km/h. Minimum temperatures will range from 29°C to 31°C, and the sea will remain light to moderate with waves between 2 and 5 feet. On Friday, the very hot daytime weather will persist, accompanied by northwesterly to variable winds at speeds of 10 to 40 km/h. Maximum temperatures will hover between 46°C and 48°C. The sea will stay light to moderate, with wave heights ranging from 2 to 5 feet. Friday night will continue to be hot, with northwesterly winds at speeds between 12 and 38 km/h. Minimum temperatures are expected to be between 30°C and 32°C. Sea conditions will remain stable with waves between 2 and 5 feet. Saturday's forecast calls for very hot weather during the day, with northwesterly to variable winds at 10 to 42 km/h. There is a chance of dust in open areas and scattered cloud cover. Maximum temperatures are expected to rise to between 47°C and 49°C. Sea conditions will be light to moderate with waves between 2 and 5 feet. Saturday night will remain hot, with similar wind patterns ranging from 10 to 38 km/h. Minimum temperatures are expected between 31°C and 33°C, and the sea will continue to see light to moderate waves between 1 and 4 feet. The meteorological department continues to advise residents to take precautions against the extreme heat and potential dust storms, particularly in open areas.
Arab Times
26-06-2025
- Climate
- Arab Times
Kuwait braces for scorching weekend temperatures and dusty conditions
KUWAIT CITY, June 26: Kuwait is set to experience extremely hot weather during the day and hot to warm conditions at night throughout the upcoming weekend, according to the Kuwait Meteorological Department (KMD). Dharar Al-Ali, Acting Director of the KMD, said the country will be affected by an extension of the Indian monsoon depression, bringing a hot and dry air mass. The weather will also be impacted by light to moderate northwesterly winds, which are expected to become active at times, stirring dust storms in open areas and causing high sea waves. On Thursday, the daytime weather is forecast to be very hot with northwesterly to variable winds blowing at speeds between 12 and 45 kilometers per hour. There is a possibility of dust storms in exposed areas along with some scattered clouds. Maximum temperatures are expected to range between 46°C and 48°C, and sea conditions will be light to moderate with wave heights between 1 and 5 feet. Thursday night will remain hot, with northwesterly to variable winds at speeds of 10 to 35 km/h. Minimum temperatures will range from 29°C to 31°C, and the sea will remain light to moderate with waves between 2 and 5 feet. On Friday, the very hot daytime weather will persist, accompanied by northwesterly to variable winds at speeds of 10 to 40 km/h. Maximum temperatures will hover between 46°C and 48°C. The sea will stay light to moderate, with wave heights ranging from 2 to 5 feet. Friday night will continue to be hot, with northwesterly winds at speeds between 12 and 38 km/h. Minimum temperatures are expected to be between 30°C and 32°C. Sea conditions will remain stable with waves between 2 and 5 feet. Saturday's forecast calls for very hot weather during the day, with northwesterly to variable winds at 10 to 42 km/h. There is a chance of dust in open areas and scattered cloud cover. Maximum temperatures are expected to rise to between 47°C and 49°C. Sea conditions will be light to moderate with waves between 2 and 5 feet. Saturday night will remain hot, with similar wind patterns ranging from 10 to 38 km/h. Minimum temperatures are expected between 31°C and 33°C, and the sea will continue to see light to moderate waves between 1 and 4 feet. The meteorological department continues to advise residents to take precautions against the extreme heat and potential dust storms, particularly in open areas.
West Australian
23-06-2025
- Business
- West Australian
ASX-listed fashion retailers record brutal share price declines on Trump tariffs, inflation shocks
A brutal two-punch combo of Trump tariffs and inflation shocks is crushing the stock prices of major Australian fashion retailers, with luxury brand Cettire leading the dramatic slump. The company started off the year with a market capitalisation of nearly $600m, but a precipitous 81 per cent decline in its share price since January 2 value means it is now worth just $115m. Moomoo market strategist Jessica Amir warned 'serious alarm bells' were ringing about the survival of the company, which sells high-end products worldwide through its online platform. 'It's safe to say there are some serious questions about a potential receivership,' she said. In a trading update from June 12, Cettire announced just $500,000 in earnings for the financial year ending May 31, though sales revenues lifted 1.7 per cent to $693.8m. The company now has $45m left in cash, down from $79m in March. Cettire founder and CEO Dean Mintz blamed trade uncertainty around US tariff policy in part for the difficult trading environment. 'Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy,' he said. 'As a result, elevated promotional activity persists across the market.' While Cettire's share price is tanking, there are avenues the company could pursue to avoid any fall into administration, for example a capital raise or taking on a new debt facility. It is not the only ASX-listed apparel business to record a disturbing slump in value this year. Footwear retailer Accent Group has slumped 45 per cent, while KMD Brands, which sells the Kathmandu and Rip Curl brands, has tumbled 33 per cent. City Chic has retreated 26 per cent. Graphic Aussie Fashion Stocks - Jan 2-June 23 (2) At the start of the year, KMD was worth about $300m. Now it is worth less than $200m. Some of the retailers point to US President Donald Trump's tariff shock for creating additional challenges in their businesses. In a trading update from June 19, KMD estimated tariffs would strip about $1m in earnings from the company across the 2025 financial year. 'The (company) continues to closely monitor the fluid US tariff situation and it remains too early to estimate the impact on consumer demand in the US,' the company said. 'Given the uncertainty in the US market, agility remains the (company's) main priority heading into 2026.' In an update from May 5, City Chic has warned some 20 per cent of its revenue was generated in the US and 90 per cent of its products were sourced from China, a big target for tariffs. 'Due to the tariff situation and its potential impact on consumer demand, USA sales expectations have been reduced for FY26,' the company said. But global trade chaos is not the only pressure mounting on fashion stocks, Ms Amir cautioned. Rising oil and electricity prices are also eating away at consumer spending power. 'The things we're paying every quarter and every month are far higher than they were,' she said. 'Petrol costs are up markedly and that's because the oil price is up. 'It means you've got less money left over to buy things like a luxury designer handbag from Cettire, or that Rip Curl jumper. 'You might want to get out your needle and thread and sow up your Kathmandu. You're not exactly going to go out and buy another one.' The benchmark ASX200, which tracks the 200 largest companies on the Australian stock market, has advanced 3 per cent year-to-date.
West Australian
19-06-2025
- Business
- West Australian
Kathmandu owner KMD Brands flags earnings slump as warm weather dents puffer jacket sales
Australia's unseasonably warm autumn has dampened sales for Kathmandu owner KMD Brands, warning full-year earnings could fall by as much as $NZ35 million ($32.3m). KMD, which also owns surfwear brand Ripcurl and footwear label Oboz, expects underlying earnings to be in the range of $NZ15m to $NZ25m, compared with the $NZ50m reported last year. Kathmandu was the worst performer for the group, with sales slumping 6.4 per cent in the four months to May. In a trading update to the market on Thursday, the group said unseasonably warm weather in Australia had a material adverse impact on Kathmandu's insulation product category, which includes its puffer jackets. 'While the volatility of Kathmandu's sales performance is frustrating, we acknowledge that unseasonably warm weather in Australia, including Victoria's warmest autumn on record, has negatively impacted sales,' group chief executive Brent Scrimshaw said. Woolworths boss Amanda Bardwell last month signalled similar trends, saying clothing was particularly challenging for its long-struggling discount department store Big W with a slower start to autumn and winter sales. But KMD on Thursday said the recent change to cooler weather in both NZ and Australia had reignited sales momentum at Kathmandu, with the first few weeks of June delivering a 13.2 per cent sales growth year-on-year. School holidays and the start of the ski season offered further opportunities to continue the momentum for the remainder of the financial year, it said. 'Kathmandu's significant sales improvement, including strong online momentum in recent weeks, reinforces our enduring brand health and strengthens our confidence in the future growth opportunity,' Mr Scrimshaw said. KMD said it continued to monitor the 'fluid US tariff situation' and anticipates a $NZ1m impact on its earnings for the 2025 financial year. For the 10 months to the end of May, group sales were down 0.5 per cent. Sales at Oboz were 4 per cent lower, while Rip Curl was the outlier, posting a modest 0.4 per cent growth. 'The group is proactively working on a range of initiatives to unlock future growth opportunities across the portfolio, address short-term market challenges and improve medium to long-term performance and value for shareholders,' Mr Scrimshaw said. The online channel continues to be a key growth opportunity, with sales up 10.7 per cent in the 10 months to the end of May. 'Kathmandu recently upgraded its online trading platform, with a significant improvement to the consumer journey,' KMD said. 'Since implementation in May, online sales have been 26.1 per cent above last year, with the recent Australian public holiday being the highest online sales day for over two years.' RBC Capital Markets analyst Wei Weng-Chen said KMD's earnings guidance was 50 per cent below the $NZ39.6m consensus expectations. KMD shares were down 1.9 per cent to 26¢ just before midday on Thursday. They are off 32 per cent this year so far.
Yahoo
05-06-2025
- Yahoo
Luigi Mangione's Handwritten Journal Sheds New Light On His State Of Mind
Luigi Mangione, the 27-year-old accused in the brazen shooting death of United HealthCare CEO Brian Thompson, had allegedly hardened his resolve to make a statement about American health care by August 15 of last year. On that date, he allegedly wrote in a red notebook, 'I finally feel confident about what I will do. The details are coming together. And I don't feel any doubt about whether it's right/justified.' 'I'm glad — in a way — that I've procrastinated bc it allowed me to learn more about UHC.' Prosecutors included select handwritten pages of a journal used by Mangione in a new 82-page filing on Wednesday that sheds new light on the thought he put into the alleged crime, including analysis of how it would be perceived by the public. Mangione appears to have also considered a different target — someone with the initials 'KMD' — before deciding against it. 'KMD would've been an unjustified catastrophe that would be perceived mostly as sick, but more importantly unhelpful. Would do nothing to spread awareness/improve people's lives,' Mangione allegedly wrote. 'The target is insurance. It checks every box.' On October 22, around one-and-a-half months before Thompson's death, Mangione allegedly wrote that 'the problem with most revolutionary acts is that the message is lost on normies.' 'For example, Ted K makes some good points on the future of humanity, but to make his point he indiscriminately mailbombs innocents,' Mangione allegedly wrote, referencing the Unabomber, Ted Kaczynski. Mangione previously left a Goodreads review on Kaczynski's book, 'Industrial Society and Its Future,' saying it was 'impossible to ignore how prescient many of his predictions about modern society turned out.' The journal entry went on: 'Normies categorize him as an insane serial killer, focus on the act/atrocities themselves, and dismiss his ideas. And most importantly — by committing indiscriminate atrocities he becomes a monster, which makes his ideas those of a monster, no matter how true. He crosses the line from revolutionary anarchist to terrorist — the worst thing a person can be.' 'This is the problem with most militants that rebel against — often real — injustices: they commit an atrocity whose horror either outweighs the impact of their message, or whose distance from their message prevents normies from connecting the dots,' the entry said. 'Consequently, the revolutionary idea becomes associated with extremism, incoherence or evil — an idea that no reasonable member of society could approve of. Rather than win public support, they lose it. The revolutionary actions are actively counter-productive.' Mangione, who allegedly called himself a 'revolutionary anarchist' in the notebook, has inspired support across the country from Americans frustrated with morbidly expensive U.S. health care. The court filing reveals that Mangione appears to have crossed paths with Thompson the day before the shooting, as he seemed to talk on his cell phone while walking down a Manhattan street by Thompson's hotel. Mangione allegedly spent approximately 23 minutes lying in wait outside the hotel on Dec. 4 before spotting Thompson. A figure dressed in black with a backpack is seen in security footage swiftly approaching the CEO from behind and firing several quick shots before fleeing the scene. A massive manhunt ended five days later when Mangione was spotted at a McDonald's in Altoona, Pennsylvania. The notebook was among the items he allegedly had with him at the time of his arrest. Prosecutors spent part of the filing arguing for a terrorism enhancement if or when Mangione is sentenced, saying Thompson's murder was engineered to strike fear in those who profit greatly off U.S. health care. They gave examples of the impact: some United HealthCare employees apparently quit out of fear of retaliation, many received security details, and one executive dyed her hair and moved due to threats. Some UHC employees were afraid to send out letters denying coverage, successfully petitioning the company to allow them to keep their names off the letters in spite of certain state laws that require them to do so. They also dismissed the suggestion outlined in the notebook that narrowing the scope of violence to one symbolic person was morally correct. 'You don't get a trophy or any kind of absolution under New York's anti-terrorism law because you only killed one innocent person and not others,' prosecutors said.
