Boost for Briscoe at half-year


Briscoes1Briscoe Group Limited has announced a profit rise of $18.4 million for the first half year, up from $14.9 million reported for the same period in 2013.

The Auckland-based company reported a profit increase of 17 per cent, excluding an insurance-related payment for the 2011 Christchurch earthquake.

Operating 78 Briscoes Homeware, Rebel Sport and Living & Giving stores throughout New Zealand, the Group saw increases of 5.3 per cent in homewares sales and 8.8 per cent in sporting goods sales.

Total sales were $231.4 million, an increase of 6.48 per cent.

“We are very pleased to finish this first half with strong growth recorded in sales, gross profit and bottom line profit,” Rod Duke, group MD, said.

“To post an increased bottom line in excess of 20 per cent growth despite the ongoing competitiveness of the retail environment and the impact on winter dependent categories with the late start to the colder months, is a great achievement for the team.”

He said the Group’s online business continues to grow significantly, and the second half of 2014 will see further investment to improve functionality and performance of the ecommerce platform to support continued growth.

Across Rebel Sport and Briscoes Homeware stores the company has completed a number of space realignment and stockroom reconfigurations, said Duke, increasing the available space to merchandise stock and improving stock flow.

During the first half of the year the Ashburton Briscoes Homeware store was extended, and the Manukau Rebel Sport store refurbished.

Further plans for the second half of 2014 include the opening of a new Rebel Sport store in Wellington’s Coastlands at the site of the Briscoes store, which is locating to a larger adjacent premise in November.

Wanganui Briscoes Homewares and Rebel Sport stores are moving to a new purpose-built location with shared back of house facilities.

In the 2015-2016 financial years major extensions and relocations are planned for Briscoes Homewares stores in Taranaki St in Wellington, Taupo and Hamilton.

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