The operator of Briscoe Homewares, Rebel Sport NZ and Living & Giving said it feels confident for the future “while the economic environment remains challenging”, after the first half of its fiscal year saw record sales.

Recording $374.2 million in group sales and $27.6 million in after-tax profits, the group’s chair Rosanne Meo called it “encouraging” in an “environment where households remain cautious”.

Briscoe Group opened a new distribution centre in the North Island following a $28.1 million investment. The group said its 2.56 per cent increase in sporting goods sales across the period was led by the FIFA World Cup, Auckland FC’s A-League triumph, the Warriors’ NRL campaign and the All Blacks’ success in the Nations Championship.

“Retail conditions remain highly promotional, but the work undertaken across sourcing, inventory management, product mix and promotional execution is gaining traction,” added group MD Rod Duke.

“That progress is particularly encouraging given the weaker New Zealand dollar and continuing uncertainty across global supply chains. Our focus remains on improving gross profit while maintaining sales momentum and strong customer value.”

Duke said attention is now turning to optimising the automation systems at the new distribution centre, telling investors that it will lead to better inventory management and improved productivity.

“The pace of the consumer recovery remains difficult to predict, and discretionary spending is likely to remain sensitive to household cost pressures and promotional activity,” he added.

“However, the business enters the second half with positive sales momentum, an improving gross margin trend and several significant strategic initiatives now moving from investment into execution.”