KMD Brands reports a NZ$20.7 million loss amid rising costs and sales decline in some areas.

KMD Brands, parent company of Kathmandu and Rip Curl, reported a half-year loss of NZ$20.7 million despite a 0.5% increase in sales to NZ$470.9 million. Operating expenses rose by 4.2%, and gross margin fell slightly. The company experienced a decline in Oboz sales but saw double-digit growth in online sales for all brands. New CEO Brent Scrimshaw plans to focus on improving profitability, cash flow, and reducing inventory.