Briscoe Group‘s sales stood flat from last year in the 39 weeks to October 27, with sales declining by 0.51 per cent to $546.1 million, excluding a Labour Day promotion.

In this fiscal year, the Labour Day promotion will be included in the November accounting period, as compared to last year when it was included in the October books.

Adjusted for Labour Day promotion, the company’s sales rose minimally by 0.53 per cent as homeware sales increased 0.36 per cent and sporting goods climbed 0.80 per cent.

“As with all retailers, pressure on margins and costs continue to impact our bottom line,” Rod Duke, Briscoe Group MD.

“We remain hopeful that the recent decreases in the OCR will improve consumer confidence and increase retail spend for the final crucial quarter of our financial year.”

Briscoe Group forecasts net profit to range from $70 million to $77 million for the full fiscal year, reflecting the high level of uncertainty expected in the fiscal fourth quarter, which traditionally accounts for more than 30 per cent of the group’s sales revenue.