Briscoe up in competitive market

Briscoes1Briscoe Group has unveiled unaudited first quarter sales growth of $146.4 million, up 3.5 per cent on the prior corresponding period.

Same store sales increased by 2 per cent in the quarter ended 29 April, adjusting for two new Rebel Sports stores, a new Briscoes Homeware store opened by the group last year and three store closures.

Homeware sales were up 1.62 per cent to $87.9 million, while sporting goods sales increased by 6.6 per cent to $58.4 million.

Homeware same-store sales decreased by 0.15 per cent, while sporting goods same-store sales were up 5.54 on the pcp.

“Briscoe Group has made a positive start to the current financial year, highlighted by strong sporting goods sales performance and continued double-digit online sales growth,” group managing director Rod Duke said.

“Last year’s first quarter sales for the homeware segment grew by 8.80% so to improve on that was going to be tough.

“In addition, the trading patterns during this quarter were significantly different to last year with Easter falling earlier than last year and also outside of school holidays,” he continued.

“New Zealand retail remains highly competitive so for the Group to achieve positive sales growth with bottom line profit tracking marginally ahead of last year’s first quarter is a satisfactory start to this new financial year.”


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