0008 GMT - Forsyth Barr is more confident in the earnings trajectory of KMD Brands following the outdoor clothing retailer's 1H result. Analyst Paul Laxton Koraua says the cycle of sales downgrades is close to ending. "We believe KMD can return to our estimated mid-cycle earnings of NZ$0.08/share by FY 2028," Forsyth Barr says. Bolstering that view is the assumption that KMD's Kathmandu brand gets back to sales of some NZ$2.5 million per store, with Ebitda margins recovering to around 14%. It also assumes Rip Curl's Ebitda margins return to approximately 10%, in line with its pre-Covid average. Finally, Forsyth Barr says an improved wholesale channel can lift Oboz's Ebitda margins to around 10%. It retains an outperform call on KMD's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 27, 2025 20:08 ET (00:08 GMT)
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