Boosted by its largest ever sales days across the homewares segment during Black Friday and Boxing Day, Briscoe now expects its full-year NPAT to be $61 million – a rise of 7.6 per cent.
The directors of Briscoe Group announced unaudited sales for the 52 weeks ended 28 January 2018 of $603.1 million, being 3.47 per cent above the $582.8 million reported for the 52 weeks ended 29 January 2017.
Homeware sales increased by 3.03 per cent to $383.8 million while sporting goods sales increased sales by 4.26 per cent to $219.3 million.
On a same-store basis Group sales for the year ended 28 January 2018 were 3.11 per cent ahead of the previous year.
On the same-store basis, homeware sales increased by 2.74 per cent, while sporting goods sales increased by 3.77 per cent.
Online sales were up over 30 per cent on the previous year.
“We operate in highly competitive markets, and it is a credit to the whole team that we have once more delivered a record performance,” said Briscoe managing director Rod Duke.
“Our traditional store format and promotional campaigns continue to resonate with our customers. This was particularly evident during Black Friday and Boxing Day – both were record days for us.
“ We will continue to focus on our online offering while maintaining our proven strategy of adding stores to our network as and when we identify opportunities.
Duke said the company’s Inventory is in good shape and that stock-turn had been uplifted.
“Gross profit dollars will finish comfortably ahead of last year although gross profit percentage will be a little lower than last year as a result of the intensely competitive and ever-changing retailing environment; however, it remains a focus for the Group as we strive to build sales volumes without compromising profitability,” he said.