Latest news with #Scrimshaw
West Australian
5 days ago
- 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
15-03-2025
- Sport
- Yahoo
Hawk Scrimshaw dealt three-match ban for Ridley hit
Hawthorn's Jack Scrimshaw has been slapped with a three-match ban over the high hit that left Essendon defender Jordan Ridley concussed. Scrimshaw caught Ridley with a swinging left arm to the head as the Bomber attempted to dispose of the ball during the Hawks' 26-point win at the MCG on Friday night. Ridley was substituted out of the game after the second-quarter incident. It was assessed as careless conduct, severe impact and high contact, and resulted in a three-match ban with no opportunity for Scrimshaw to accept an early plea. Later in the same quarter, Scrimshaw was also concussed after a nasty head clash with teammate Josh Battle. As a result, Scrimshaw was already set to miss the unbeaten Hawks' blockbuster round-two clash with Carlton under concussion protocols. If the suspension stands, he will also miss the encounter with red-hot GWS in round three and the grudge match against Port Adelaide in Gather Round. The Hawks have a bye in round four. Essendon are yet to provide an update on Ridley's status, however, he will miss at least the round-two clash with Adelaide under concussion protocols. Scrimshaw was bleeding heavily after his collision with Battle and was immediately taken from the field. "He's got concussion, so he'll certainly miss the next game," Hawthorn coach Sam Mitchell said post-match. "He had some other stuff going on but nothing's been confirmed at this stage. He'll get checked out over the next couple of days. "It's pretty hard for his family to see injuries like that. They're just unfortunate in the game that we play. "He's fortunate that he was still talking and chatting away in the rooms. He said to me at halftime, 'Make sure you get the win'. "So he's still sort of with us and that's pleasing because it looked quite nasty." Hawthorn substitute Sam Frost can accept a $1000 fine for striking Essendon's Ben Hobbs. Bombers defender Mason Redman can accept a $1000 fine for careless contact with an umpire.
