Rip Curl delivered a 6.6% year-over year increase in total sales for the first quarter of FY26 ended November 2, with DTC same-store sales rising 3%, parent company KMD Brands reported Tuesday.
Companywide, KMD Brands reported 7.9% year-over-year growth in total sales during the quarter.
The company’s outdoor retail chain and wholesale brand Kathmandu reported a 13.9% sales increase and a 14% rise in DTC same-store sales.
Hiking footwear brand Oboz reported a 1.3% sales decline.
For the whole group, wholesale order books are stable and slightly above last year, the company said.
KMD Brands said gross margin for the quarter fell slightly during the quarter to 55.8% because of efforts to clear old inventory.
KMD Brands CEO Brent Scrimshaw said he was encouraged by the start to the fiscal year
“Group sales results for the first quarter are encouraging and have demonstrated some early-stage momentum,” he said in a statement.
However, he noted the importance of the upcoming Black Friday and Christmas trading periods for the first-half results.
