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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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.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Sam Trethewey: Milford Asset Management Portfolio Manager on KMD Brands posting 11 percent sales drop

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/418049ef-7862-4f4f-933f-b1f60085be43/transcript

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 15 November.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 15 November. 
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 15 November 2024 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3d18bd51-f8b2-4d0f-ab34-b229006629ad/transcript

Good luck to TVNZ.  

Good luck to TVNZ trying to convince anyone that they are unbiased, given what's just happened with them in the last week.  

I just played you the clip of the Breakfast reporter singing with the organiser of the Hikoi - which I think any right-minded person would interpret as an endorsement of the Hikoi.  

I think this should earn her some serious trouble if TVNZ takes perceptions of bias seriously.  

What is much more serious for them is that the woman who was tipped to become the top news boss has just been outed today for taking personal leave to go on the Hikoi.  

The reason we know this is because she loves a social media post, and she's put it up on her Instagram. So just flaunted it for everyone to see.  

If you are a news boss, or about to become the news boss, you should be smart enough to keep that private emphasis on private - especially if your organisation is trying to pretend that it's unbiased, which is what TVNZ is trying to do.  

Very hard at the moment in the face of falling public trust in media.  

Just a few weeks ago, TVNZ self-published its editorial guidelines for journalists.  

The point of that was to tell us that they take impartiality seriously and that they are impartial.  

Well, that's just been massively undone by finding out that the woman who will be in charge of all of the journalists actually doesn't really like the current government at all.  

So, good luck.  

You can corral those journalists into a neutral space, all you like.  

But if the lady who is their boss has views so strong about the current government that she wants to go on a protest against them, I think you've got a problem with perception of bias.  

Now, the important thing here about TVNZ to understand is that it pretends it's impartial, right?  

It is not, that is the important thing here. 

Nobody would mind if the editor of The Spinoff turned up at the Hikoi because The Spinoff wears its colours on its sleeve.  

We know what they're about and that they own it. They’re just are completely honest about it.  

TVNZ though was trying to convince us that they are neutral.  

The other important thing here is that TVNZ is the publicly owned broadcaster on television, right?  

So that also means there are standards that we expect from them that are different to what everybody else is subjected to.  

Now, TVNZ in order to convince us that they are impartial and that they demand impartiality from the people who work within the newsroom and in the editorial team, they would have to a not give that woman the news job and I doubt that's going to happen.  

They would have to discipline that woman and discipline the reporter for what happened on television and then make that public.  

Do you think that's going to happen?  

No, me neither.  

So good luck to TVNZ trying to convince us from here on that they're impartial. 

LISTEN ABOVE

Good luck to TVNZ. &nbsp;
Good luck to TVNZ trying to convince anyone that they are unbiased, given what's just happened with them in the last week. &nbsp;
I just played you the clip of the Breakfast reporter singing with the organiser of the Hikoi - which I think any right-minded person would interpret as an endorsement of the Hikoi. &nbsp;
I think this should earn her some serious trouble if TVNZ takes perceptions of bias seriously. &nbsp;
What is much more serious for them is that the woman who was tipped to become the top news boss has just been outed today for taking personal leave to go on the Hikoi. &nbsp;
The reason we know this is because she loves a social media post, and she's put it up on her Instagram. So just flaunted it for everyone to see. &nbsp;
If you are a news boss, or about to become the news boss, you should be smart enough to keep that private emphasis on private - especially if your organisation is trying to pretend that it's unbiased, which is what TVNZ is trying to do. &nbsp;
Very hard at the moment in the face of falling public trust in media. &nbsp;
Just a few weeks ago, TVNZ self-published its editorial guidelines for journalists. &nbsp;
The point of that was to tell us that they take impartiality seriously and that they are impartial. &nbsp;
Well, that's just been massively undone by finding out that the woman who will be in charge of all of the journalists actually doesn't really like the current government at all. &nbsp;
So, good luck. &nbsp;
You can corral those journalists into a neutral space, all you like. &nbsp;
But if the lady who is their boss has views so strong about the current government that she wants to go on a protest against them, I think you've got a problem with perception of bias. &nbsp;
Now, the important thing here about TVNZ to understand is that it pretends it's impartial, right? &nbsp;
It is not, that is the important thing here.&nbsp;
Nobody would mind if the editor of The Spinoff turned up at the Hikoi because The Spinoff wears its colours on its sleeve. &nbsp;
We know what they're about and that they own it. They’re just are completely honest about it. &nbsp;
TVNZ though was trying to convince us that they are neutral. &nbsp;
The other important thing here is that TVNZ is the publicly owned broadcaster on television, right? &nbsp;
So that also means there are standards that we expect from them that are different to what everybody else is subjected to. &nbsp;
Now, TVNZ in order to convince us that they are impartial and that they demand impartiality from the people who work within the newsroom and in the editorial team, they would have to a not give that woman the news job and I doubt that's going to happen. &nbsp;
They would have to discipline that woman and discipline the reporter for what happened on television and then make that public. &nbsp;
Do you think that's going to happen? &nbsp;
No, me neither. &nbsp;
So good luck to TVNZ trying to convince us from here on that they're impartial.&nbsp;
LISTEN ABOVE

Heather du Plessis-Allan: Good luck convincing us of impartiality

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4d99e173-5d90-4c1e-a744-b229006952c3/transcript

The number of prison officers sacked for misconduct in UK jails has gone up by more than a third on last year. Offences include sex acts with inmates and other inappropriate behaviour and selling drugs and phones. 

UK correspondent Gail Downey tells Heather du Plessis-Allan the problem is being put down to young, inexperienced staff with poor vetting and inadequate training. 

Plus, one of the brothers of Mohamed Al Fayed, who owned the Harrods department store in London has been accused of sexual assault and trafficking by three women who worked there. 

And, the UK government wants to merge the country’s 86 local government pension schemes into a handful of “pension megafunds” in what is being called the "biggest pension reform in decades.” 

LISTEN ABOVE 

The number of prison officers sacked for misconduct in UK jails has gone up by more than a third on last year. Offences include sex acts with inmates and other inappropriate behaviour and selling drugs and phones.&nbsp;
UK correspondent Gail Downey tells Heather du Plessis-Allan the problem is being put down to young, inexperienced staff with poor vetting and inadequate training.&nbsp;
Plus, one of the brothers of Mohamed Al Fayed, who owned the Harrods department store in London has been accused of sexual assault and trafficking by three women who worked there.&nbsp;
And, the UK government wants to merge the country’s 86 local government pension schemes into a handful of “pension megafunds” in what is being called the "biggest pension reform in decades.”&nbsp;
LISTEN ABOVE&nbsp;

Gail Downey: UK correspondent on rising number of prison officers sacked for misconduct, brother of former Harrods owner accused of sexual assault, UK government wants to merge the country’s 86 local government pension schemes

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c3e11a04-64aa-4557-913b-b2290065cbb1/transcript

Sam Trethewey: Milford Asset Management Portfolio Manager on KMD Brands posting 11 percent sales drop

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