2223 GMT - Outdoor clothing retailer KMD Brands' shares in New Zealand fall 2.7% after a trading update that highlighted ongoing pressure on its gross profit margin. RBC Capital Markets said consensus expectations were for margins to expand by some 64 basis points in 2H. Still, analyst Wei Weng-Chen suggested that was a rare negative in an otherwise positive report. "KMD's 1H results were generally ahead of guidance and therefore consensus," RBC says. Sales growth was positive compared to KMD's prior 5-month update showing a decline. 1H Ebitda of NZ$3.9 million was above the top end of KMD's guidance range of NZ$1 million-NZ$3 million, while net debt was also better than forecast, RBC says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 25, 2025 18:23 ET (22:23 GMT)
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