Another tough week for brick and mortar retail. 

Outdoor goods retailer KMD Brands, who owns the likes of Kathmandu and Rip Curl, has announced the closure of 21 stores across its network. 

It’s making the move in an effort to turn around struggling sales and find $25 million in cost savings. 

Chairman David Kirk told Mike Hosking that it’s a tough environment for all businesses, but discretionary retail is being hit hard. 

He says people have to buy food, and if a kitchen appliance breaks you have to replace it, but people don’t have to go out and buy an insulation jacket, or a raincoat, or a wetsuit. 

“In difficult times, people hang onto their money.” 

LISTEN ABOVE  

Another tough week for brick and mortar retail.&nbsp;
Outdoor goods retailer KMD Brands, who owns the likes of Kathmandu and Rip Curl, has announced the closure of 21 stores across its network.&nbsp;
It’s making the move in an effort to turn around struggling sales and find $25 million in cost savings.&nbsp;
Chairman David Kirk told Mike Hosking that it’s a tough environment for all businesses, but discretionary retail is being hit hard.&nbsp;
He says people have to buy food, and if a kitchen appliance breaks you have to replace it, but people don’t have to go out and buy an insulation jacket, or a raincoat, or a wetsuit.&nbsp;
“In difficult times, people hang onto their money.”&nbsp;
LISTEN ABOVE &nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

David Kirk: KMD Brands Chairman on the closure of 21 stores to try save costs

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4a28f144-8749-42b4-9540-b34e0163e6e7/transcript

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. 

 

Christchurch: 9/10 

The stadium, the opening, the spend, the party, and the vibe. That is what all of New Zealand should be. 

 

The Washington Hilton: 1/10 

Between yet more violence and yet more conspiracy from all sides, too much of America is irreparably sick. 

 

King Charles: 8/10 

By any standards or count, a tour de force. Solid, statesman-like, witty, clever and brilliantly executed. It is soft power, awesome diplomacy, brilliant engagement, all wrapped up in a flash royal bow. 

 

Winston vs the National Party: 4/10 

I get it's election year. I get National are bleeding support to NZ First. But if they're not careful someone is going to say one thing or do one thing a bit edgier than they might have been expected, and it will all hit the fan. 

  

The diesel deal: 8/10 

Another reminder that when Peters isn't stirring, the Coalition has actually handled the real issues pretty damn well. 

 

LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW 

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.&nbsp;
&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/commentary-box-andrew-saville-and-jason-pine-discuss-super-round-fury-v-joshua-nfl/">Christchurch: 9/10</a>&nbsp;
The stadium, the opening, the spend, the party, and the vibe. That is what all of New Zealand should be.&nbsp;
&nbsp;
The Washington Hilton: 1/10&nbsp;
Between yet more violence and yet more conspiracy from all sides, too much of America is irreparably sick.&nbsp;
&nbsp;
King Charles: 8/10&nbsp;
By any standards or count, a tour de force. Solid, statesman-like, witty, clever and brilliantly executed. It is soft power, awesome diplomacy, brilliant engagement, all wrapped up in a flash royal bow.&nbsp;
&nbsp;
Winston vs the National Party: 4/10&nbsp;
I get it's election year. I get National are bleeding support to NZ First. But if they're not careful someone is going to say one thing or do one thing a bit edgier than they might have been expected, and it will all hit the fan.&nbsp;
&nbsp;&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/shane-jones-associate-energy-minister-on-the-deal-with-z-energy-to-stockpile-another-90-million-litres-of-diesel/">The diesel deal: 8/10</a>&nbsp;
Another reminder that when Peters isn't stirring, the Coalition has actually handled the real issues pretty damn well.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: King Charles' visit was a tour de force by any standard

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a9e8b7b6-6eaa-4f92-b653-b43c01813e0a/transcript

We can thank the new Reserve Bank Governor for ending the week on a high note. 

New charter details were announced yesterday. 

Charters and Reserve Banks were once as dry as old dust but these days I think we have a new understanding of the importance of their role. 

Out of Covid and economic shambles has come more talk than ever about cash rates and inflation and debt and wasteful expenditure. 

The main change for me is the Monetary Policy votes will be made public, and not a moment too soon. 

They are already starting to hold press conferences after each decision. Some decisions are statements, some are reviews and, as such, carry different amounts of detail and information. But the idea that they front after each decision shouldn't be new. 

It should have always happened. Just what was it about the thinking at the lower end of the terrace in the capital that had them believing that simply putting out a statement was plenty. 

Why wouldn’t they want questions? Why wouldn’t they want to be held to account? 

Given everything is streamed these days you can watch it all. There's no need for a journalist to cut and paste a few so-called highlights to skew the narrative. Free and open and complete accountability should be welcomed, and this is overdue. 

But as for the vote, the same thinking applies. If you hold the power of a committee member and if you get a say in a mechanism as important as the country's cash rate, once again, what's your argument for remaining quiet? To keep it a secret? 

If the vote is 5-1, who is the one and why? What's wrong with an explanation? For example, there were four dissenting votes yesterday at the Fed. Let's hear about it. 

Knowledge is power and the fact we are only at this place in 2026 is a crime of sorts. A condescending attitude where they clearly thought we didn’t need to know. 

So far new Governor Dr Anna Breman has introduced pressers, changed the charter and promised to at least partially look through the immediate inflationary impact of the war. 

So far, so impressive. I like the cut of her gib.

Orr vs Breman? No contest. 

We can thank the new Reserve Bank Governor for ending the week on a high note.&nbsp;
New charter details were announced yesterday.&nbsp;
Charters and Reserve Banks were once as dry as old dust but these days I think we have a new understanding of the importance of their role.&nbsp;
Out of Covid and economic shambles has come more talk than ever about cash rates and inflation and debt and wasteful expenditure.&nbsp;
The main change for me is the Monetary Policy votes will be made public, and not a moment too soon.&nbsp;
They are already starting to hold press conferences after each decision. Some decisions are statements, some are reviews and, as such, carry different amounts of detail and information. But the idea that they front after each decision shouldn't be new.&nbsp;
It should have always happened. Just what was it about the thinking at the lower end of the terrace in the capital that had them believing that simply putting out a statement was plenty.&nbsp;
Why wouldn’t they want questions? Why wouldn’t they want to be held to account?&nbsp;
Given everything is streamed these days you can watch it all. There's no need for a journalist to cut and paste a few so-called highlights to skew the narrative. Free and open and complete accountability should be welcomed, and this is overdue.&nbsp;
But as for the vote, the same thinking applies. If you hold the power of a committee member and if you get a say in a mechanism as important as the country's cash rate, once again, what's your argument for remaining quiet? To keep it a secret?&nbsp;
If the vote is 5-1, who is the one and why? What's wrong with an explanation? For example, there were four dissenting votes yesterday at the Fed. Let's hear about it.&nbsp;
Knowledge is power and the fact we are only at this place in 2026 is a crime of sorts. A condescending attitude where they clearly thought we didn’t need to know.&nbsp;
So far new Governor Dr Anna Breman has introduced pressers, changed the charter and promised to at least partially look through the immediate inflationary impact of the war.&nbsp;
So far, so impressive. I like the cut of her gib.
Orr vs Breman? No contest.&nbsp;

Mike's Minute: I like the cut of Anna Breman's gib

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/38e32299-31de-4250-bd6b-b43c017b847d/transcript

Formula 1 is back in business this weekend. 

The Miami Grand Prix follows a month-long break due to the conflict in the Middle East – both the Bahrain and Saudi races getting shelved.  

Tweaks to the controversial new regulations and car upgrades will also be in play at the race. 

Motorsport Expert Bob McMurray told Mike Hosking Miami is pivotal for the very future of Formula 1. 

He says that if everything works well, they’ll continue quite happily, but if things continue as they have in previous Grands Prix, the organisation has a real problem as they can’t keep tweaking these regulations.  

LISTEN ABOVE  

Formula 1 is back in business this weekend.&nbsp;
The Miami Grand Prix follows a month-long break due to the conflict in the Middle East – both the Bahrain and Saudi races getting shelved. &nbsp;
Tweaks to the controversial new regulations and car upgrades will also be in play at the race.&nbsp;
Motorsport Expert Bob McMurray told Mike Hosking Miami is pivotal for the very future of Formula 1.&nbsp;
He says that if everything works well, they’ll continue quite happily, but if things continue as they have in previous Grands Prix, the organisation has a real problem as they can’t keep tweaking these regulations. &nbsp;
LISTEN ABOVE &nbsp;

Bob McMurray: Motorsport expert previews the Miami Grand Prix, discusses the regulation tweaks

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/abb5b890-4b54-4dea-aef2-b43c0171942f/transcript

David Kirk: KMD Brands Chairman on the closure of 21 stores to try save costs

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