Briscoe Group’s sales rose 2.07 per cent from $189 million in the second quarter of last year to $192.9 million during the same period this year. 

Its second quarter online sales comprised 19.97 per cent of the group’s sales as compared to 19.83 per cent year-on-year.

The company expects the launch of its new online front-end platform this month to improve functionality and performance significantly.

Briscoe Group’s homeware sales saw a 3.97 per cent growth following the first quarter’s slow start to winter and the timing of promotional events.

Rebel sporting goods sales declined 1.34 per cent, which the company attributed to the continued discretionary spending caused by a tough economic climate and reduced consumer sentiment. 

“Gross profit margin remains a major focus for the group, and we continue to see pressure as the impacts of the economic downturn are felt,” said group MD Rod Duke.  

“Our focus on inventory is a constant priority, and we expect the value of group inventory to close the half-year less than July 2024.

“We continue to see how highly sensitive New Zealand retail is to the ongoing economic challenges faced by all retailers.”

“As previously indicated, we anticipated the first half to be especially challenging, but continue to expect second half profitability to exceed the first half in a return to a more normalised shape of annual profitability,” said Duke. 

The group expects a net profit after tax of $29 million for the first half of the year and will release its half-year results in September.