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KMD Brands 1H FY25 Results, Rip Curl: Sales impacted by wholesale customer caution

KMD BRANDS Half Year Report For the period ending 31 January 20251H FY25 financial summary (vs 1H FY24): Group sales up +0.5% to $470.9 million. Gross margin down -0.3% of sales to 58.5%. Underlying operating expenses1 up +4.2% to $271.6 million. Underlying EBITDA1 $3.9 million, down -74.3% year-on-year (“YOY”). Statutory NPAT loss -$20.7 million. Underlying NPAT1 loss -$16.1 million. Net Working Capital $192.6 million, -$33.6 million lower YOY. Net Debt $76.2 million, -$20.0 million…