KMD +2.23%: the retailer reported an FY22 miss today, however, the numbers were overshadowed by a strong August update. Revenue was up 6%, however Net Income fell 40% and was a ~5% miss to expectations. COVID disruptions weighed on the numbers. A factory shutdown in Vietnam also dragged on earnings while the company said up to 40% of orders for their footwear brand Oboz were impacted by ongoing supply chain issues. The company said momentum in the 4th quarter was strong, and sales growth had continued into August with sales +10% above pre-COVID levels, and 44% above August 2021. Supply chain issues were also easing and the outlook for 2023 is positive as travel picks up, increasing demand for Kathmandu.
MM is bullish KMD
Add To Hit List
