Homewares and sports goods retailer Briscoe Group has confirmed “record” sales and profit performance in its full-year results – but the company is warning of volatile trading conditions ahead.
For the 52 weeks to January 29, sales grew 5.6 per cent to $785.9 million while tax-paid profit improved marginally by 0.6 per cent to $88.4 million.
By segment, homewares sales were up 5.7 per cent to $487.5 million while its Rebel Sport chain registered $298.4 million, up 5.2 per cent.
The group’s online business contributed 18.9 per cent of sales, however performance was below that achieved last year as more consumers shopped in-store.
Group MD Rod Duke described the result as an “outstanding achievement” given the continued deterioration in consumer confidence and retail spending.
“We have a very strong core business which continues to prove its resilience amidst the varied challenges faced by the group across recent years.”
He said the business will focus on implementing its “strategic initiatives” since New Zealand’s retail environment appears to remain “highly sensitive” in the near term.
The company also completed five full-store refurbishments during the first half and refreshed its Briscoe Homeware store in Te Rapa as well as both the Briscoes Homeware and Rebel Sport stores in Dunedin and Whangarei in the second half.
It will open a new Rebel Sport store in Ashburton during Easter.
- Further reading: Briscoe Group reports record profit despite soft consumer confidence
