{"id":401,"date":"2025-09-04T05:00:07","date_gmt":"2025-09-04T05:00:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/401\/"},"modified":"2025-09-04T05:00:07","modified_gmt":"2025-09-04T05:00:07","slug":"kmd-brands-to-close-21-stores-in-25m-cost-saving-strategy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/401\/","title":{"rendered":"KMD Brands to close 21 stores in $25m cost-saving strategy"},"content":{"rendered":"<p class=\"VYEVUgvTMz\" style=\"display:none\">\u201cWhat I\u2019ve seen is clear: the potential of our brands is far greater than what we\u2019re delivering today.\u201d<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">The plan, dubbed \u201cNext Level\u201d, would be carried out over the coming years.<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">\u201cCore to our strategy is a clear, integrated marketplace vision for each of our brands that aligns consumer, product and store format in each geography,\u201d Scrimshaw said.<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">KMD chairman David Kirk said the board was \u201cfully aligned\u201d with the new strategy.<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">\u201cWe believe KMD Brands is materially undervalued by the market,\u201d Kirk said. \u201cOver the last 18 months we have deliberately made significant executive team changes to enhance the core capabilities of the group.\u201d<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">The company has struggled in recent years amid a wider downturn in the retail sector. It posted an interim loss of more than $20m in March and a full-year loss of nearly $50m last year.<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">KMD was scheduled to announce its 2025 results on September 24.<\/p>\n<p class=\"VYEVUgvTMz\" style=\"display:none\">\u2013 <a href=\"https:\/\/www.rnz.co.nz\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.rnz.co.nz\/\">RNZ<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"\u201cWhat I\u2019ve seen is clear: the potential of our brands is far greater than what we\u2019re delivering today.\u201d&hellip;\n","protected":false},"author":2,"featured_media":402,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[652,654,665,650,138,651,655,658,78,649,663,661,111,139,69,657,660,659,667,662,653,656,666,61,664],"class_list":["post-401","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-652","tag-25m","tag-around","tag-brands","tag-business","tag-close","tag-costsaving","tag-goods","tag-in","tag-kmd","tag-looks","tag-major","tag-new-zealand","tag-newzealand","tag-nz","tag-outdoor","tag-planning","tag-retailer","tag-sales","tag-shakeup","tag-stores","tag-strategy","tag-struggling","tag-to","tag-turn"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=401"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/402"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}