Sales at Kathmandu owner KMD Brands slumped by 11 percent, with all three of its brands feeling the effect of weak consumer confidence in its latest financial year.

The company had a statutory net profit after tax decline of $48.3 million for FY24, including a one-off non-cash impairment on the goodwill of its shoe brand Oboz of $40.3 million.

Milford Asset Management's Sam Trethewey says investors didn't have high expectations ahead of this announcement.

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