Briscoe Group Limited has posted unaudited sales for the first trading quarter ended 1 May 2016 of $133.0 million, representing sales 11.02 per cent higher than the $119.8 million reported for the same quarter of last year.

On a same store basis the Group’s sales for the quarter were 7.69 per cent above the first quarter for last year. The same store calculation adjusts for three new Rebel Sport stores opened by the Group at Hornby, Christchurch (March 2015), Queenstown (October 2015) and Westgate, Northwest Auckland (March 2016) and also for the two new Briscoes Homeware stores opened at Queenstown (October 2015) and Westgate (March 2016).

“Briscoe Group has made a very positive start to the current financial year,” said Rod Duke, group managing director. “Strong sales growth was achieved in this first quarter across both the sporting goods and homeware segments, and the Group’s gross profit percentage for the quarter is ahead of what was achieved for the same quarter last year. This has resulted in Group profit tracking ahead of last year.

“We are satisfied with our positive momentum.”

Sales for the Group’s homeware segment increased by 8.80 per cent to $79.5 million, while sporting goods sales increased by 14.51 per cent to $53.4 million. On a same store basis, homeware sales increased by 5.88 per cent for the quarter while sporting goods sales were 10.54 per cent ahead of last year.

“Our markets continue to be fiercely competitive with on-going economic challenges likely to be faced by ourselves and other importers and retailers from such factors as the depressed dairy sector, and the hedging of foreign exchange exposures at less-favourable rates than in recent years,” said Duke. “At Briscoe Group we recognise such challenges and risk exposures and manage them as effectively and prudently as we can.”