KMD Brands Faces Two Testing Hurdles -- Market Talk

Dow Jones

May 21

2302 GMT - KMD Brands's capital raise has shored up its balance sheet but Forsyth Barr highlights two key hurdles that the retailer needs to clear. Firstly, NZ$40 million of its renewed debt facility is due to mature in FY27. Analyst Paul Laxton Koraua says KMD must get to NZ$40 million net cash in FY27 to fund its NZ$200 million working capital requirements. Secondly, KMD's debt covenant relief ends by FY27, with renewed terms yet to be agreed. "We think that KMD would be able to traverse both of these without needing additional capital, albeit discipline around working capital and capex is required," Forsyth Barr says. There's scope to release NZ$30 million-NZ$40 million of inventory from the Kathmandu business, Forsyth Barr adds. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 20, 2026 19:02 ET (23:02 GMT)

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Firstly, NZ$40 million of its renewed debt facility is due to mature in FY27. Analyst Paul Laxton Koraua says KMD must get to NZ$40 million net cash in FY27 to fund its NZ$200 million working capital requirements. Secondly, KMD's debt covenant relief ends by FY27, with renewed terms yet to be agreed. \"We think that KMD would be able to traverse both of these without needing additional capital, albeit discipline around working capital and capex is required,\" Forsyth Barr says. There's scope to release NZ$30 million-NZ$40 million of inventory from the Kathmandu business, Forsyth Barr adds. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 20, 2026 19:02 ET (23:02 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>KMD Brands Faces Two Testing Hurdles -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKMD Brands Faces Two Testing Hurdles -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-21 07:02</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  2302 GMT - <a href=\"https://laohu8.com/S/KMD.AU\">KMD Brands</a>'s capital raise has shored up its balance sheet but Forsyth Barr highlights two key hurdles that the retailer needs to clear. Firstly, NZ$40 million of its renewed debt facility is due to mature in FY27. Analyst Paul Laxton Koraua says KMD must get to NZ$40 million net cash in FY27 to fund its NZ$200 million working capital requirements. Secondly, KMD's debt covenant relief ends by FY27, with renewed terms yet to be agreed. \"We think that KMD would be able to traverse both of these without needing additional capital, albeit discipline around working capital and capex is required,\" Forsyth Barr says. There's scope to release NZ$30 million-NZ$40 million of inventory from the Kathmandu business, Forsyth Barr adds. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 20, 2026 19:02 ET (23:02 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KMD.AU","symbol_name":"KMD Brands Ltd","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2637287184","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2637287184","pubTimestamp":1779318120,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2302 GMT - KMD Brands's capital raise has shored up its balance sheet but Forsyth Barr highlights two key hurdles that the retailer needs to clear. Firstly, NZ$40 million of its renewed debt facility is due to mature in FY27. Analyst Paul Laxton Koraua says KMD must get to NZ$40 million net cash in FY27 to fund its NZ$200 million working capital requirements. Secondly, KMD's debt covenant relief ends by FY27, with renewed terms yet to be agreed. \"We think that KMD would be able to traverse both of these without needing additional capital, albeit discipline around working capital and capex is required,\" Forsyth Barr says. There's scope to release NZ$30 million-NZ$40 million of inventory from the Kathmandu business, Forsyth Barr adds. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"KMD.AU":"KMD Brands Ltd","BK7128":"专卖店","BK8057":"专卖店","KMD.NZ":"KMD Brands Limited Ordinary Shares"},"translate_title":"KMD Brands面临两个测试障碍——Market Talk","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KMD.NZ":1.5,"KMD.AU":0.9},"content_text":"2302 GMT - KMD Brands's capital raise has shored up its balance sheet but Forsyth Barr highlights two key hurdles that the retailer needs to clear. Firstly, NZ$40 million of its renewed debt facility is due to mature in FY27. Analyst Paul Laxton Koraua says KMD must get to NZ$40 million net cash in FY27 to fund its NZ$200 million working capital requirements. Secondly, KMD's debt covenant relief ends by FY27, with renewed terms yet to be agreed. \"We think that KMD would be able to traverse both of these without needing additional capital, albeit discipline around working capital and capex is required,\" Forsyth Barr says. There's scope to release NZ$30 million-NZ$40 million of inventory from the Kathmandu business, Forsyth Barr adds. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 20, 2026 19:02 ET (23:02 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}