Company Interview / Market Update | KMD Brands, ANZ, WiseTech, Rio Tinto, National Storage REIT, HomeCo Daily Needs REIT

Rip Curl and Kathmandu owner KMD Brands (ASX: KMD) has recorded a 0.5% drop in sales in the first ten months of FY25. KMD says while its Rip Curl business is performing well, notably in North America, the drop in sales is attributed to Katmandu and the Oboz footwear brands, notably amidst warmer weather -- pointing to Victoria's warmest Autumn on record. Moreover, KMD Brands says US tariffs are expected to have a negative effect on FY25 earnings by about NZ$1 million. CEO Brent Scrimshaw says the group continues to proactively address challenging market conditions to maintain market share.

ANZ Maile Carnegie (ASX: ANZ) will retire from the bank on the first of July. Carnegie runs ANZ's retail banking business.

And WiseTech (ASX: WTC) directors Charles Gibbon and Michael Gregg are leaving the company's board. Gibbon will leave the board at the end of June, while Gregg will retire at the company’s annual general meeting in November. The pair are being replaced by Sandra Hook, a former News Corp and Fairfax executive, and Rob Castaneda, the founder of tech company ServiceRocket.

Rio Tinto (ASX: RIO) has reached a settlement in a lawsuit that accused the miner of defrauding investors. The mining giant will pay almost US$139 million after defendants alleged Rio concealed problems with its US$7 billion underground expansion of its copper and gold mine in Mongolia.The settlement also resolved claims against former Rio Tinto Chief Executive Jean-Sebastien Jacques, who stepped down in March 2021.

National Storage (ASX: NSR) will pay out a 5.6 cents distribution for the 6 months to the end of June 2025. In the first 6 months of the financial year, National Storage REIT delivered a 5.5 cents distribution.

And the HomeCo Daily Needs REIT (ASX: HDN) says its valuation has gained a record $142 million in the past 6 months. The REIT has reafffirmed its Funds from Operation and distribution guidance - it expects to pay shareholders a 2.12 cents distribution for the quarter ending on June 30th.