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Briscoe Group rebounds during first quarter

Briscoe Group has seen sales rise during its first quarter of FY21 78.4 per cent to $173.1 million, with last year’s figures representing the brunt of the initial Covid-19 impact.

Compared to the same period of FY19 this result sits at a gain of 14.9 per cent.

“The increased consumer demand experienced towards the end of last year has continued through into this quarter,” said group managing director Rod Duke.

“Gross margin has also continued to be strong for the group, delivering ahead of expectations.

“The massive disruption to trading from Covid-19 enabled us to implement improvements to the way in which we analyse and construct our promotional activity, and also to how we process and manage the flow of inventory through the business.”

Duke noted that as international borders reopen consumer spending will likely begin to taper off domestically, and doesn’t expect the same level of growth in sales in the second quarter. However, the group is well placed for a first half well ahead of last year’s result of $28 million.

According to the retailer, sales in its homewares department rose 81.43 per cent during the first quarter, while sales of sporting goods rose 74 per cent. Compared to the same period of FY19, however, these results moderated to a gain of 15.3 per cent and 14.3 per cent respectively.

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