Shares of KMD Brands (ASX:KMD) fell as much as 3.7% to NZ$0.79, marking their lowest level since September 18.

KMD Brands suffered its largest intraday percentage fall since September 11.

The company reported its fiscal year 2023 net profit from continuing operations.

The reported net profit from continuing operations for the financial year was NZ$36.6 million, a 0.6% dip compared with the same period last year.

Furthermore, KMD Brands stated that its group sales for August were down by 6.4% compared to last year.

As of its last closing, KMD Brands' stock has depreciated by 20.4% year-to-date.

KMD Brands is a New Zealand-based retail company that delivers products in the sportswear and camping gear sectors.