Briscoe Group, the operator of Briscoe Homewares and Rebel Sports, has set new fourth-quarter and annual sales records. Q4 sales reached $220.6 million and full-year sales $686.8 million.

The news comes after a disappointing quarter for the group’s sporting division.

Group MD Rod Duke said: “In a year marked by persistent pressure on consumer sentiment and discretionary spending … delivering strong fourth-quarter growth and achieving record full-year sales is an outstanding result.

“Despite the ongoing intensity of a highly competitive retail environment, a key objective for the second half was to reduce the year-on-year decline in gross margin percentage.”

Online sales accounted for 20 per cent of groupwide sales, up from 19.7 per cent the previous year.

“Our online business continues to strengthen. Following the successful migration to the new Adobe platform earlier in the year,” Duke added.

“The group’s full-year net profit after tax (NPAT) will be in line with previous guidance and is expected to fall within the range of $59 to $60 million. The team continues to do an exceptional job balancing gross margin investment, driving sales, and maintaining tight cost control.”

Duke said the opening of the flagship Rebel X store in Panmure, Auckland, has been met with “overwhelmingly positive” feedback. He added that cash holdings will reduce, due to the progress on the construction of the group’s new distribution centre in Drury.

Fourth quarter sales in the group’s homeware division grew by 3.4 per cent year-on-year. Sporting sales increased by 6.4 per cent across the same period.

Briscoe Group is expected to report its full-year results on March 11.