Briscoes shines in NZ market

BriscoesNew Zealand homewares and sporting retailer, Briscoes Group, has seen its sales increase by 6.8 per cent for the year to the end of January.

Sales for 2013 came in at NZ$483.9 million, compared to 2012 sales of NZ$452.7 million. The Group’s homeware segment increased sales by

6.4 per cent during the period and sporting goods by 7.6 per cent.On a same store basis, sales for the 12 month period were 5.2 per cent ahead of the same period last year.

Homeware sales increased by 4.6 per cent, while sporting goods sales increased by 6.5 per cent like for like.

In the fourth quarter, Group sales were NZ$162.7 million, 8.11 per cent above the NZ$150.5 million reported for the same quarter last year.

“For the quarter, homeware sales increased by 7.3 per cent to NZ$111.9 million, while sporting goods sales were NZ$50.7 million, an increase of 9.9 per cent on the NZ$46.2 million achieved by Rebel Sport for the same quarter last year.On a same store basis, sales for the fourth quarter were 7.2 per cent ahead of the fourth quarter for last year.

Briscoes retail brands include Briscoes, Rebel Sport, Living & Giving.

Rod Duke, Briscoes MD, said he was pleased with sales, margins and overall performance for the final quarter of the year in a market which continues to be driven by aggressive promotional activity.

“Trading was steady in the run up to Christmas and particularly strong immediately prior to and post Christmas,” said Duke.

“To exceed seven per cent same store sales growth for the quarter and five per cent for the full financial year is a tremendous achievement by the team.

“Margins have been under pressure all year for retailers and while we will finish just behind last year’s gross profit margin percentage for the full year, the deficit for the second half of this year has improved in relation to the first half.“We are pleased with the growth we are generating in online sales across all three trading brands and especially with the significant lifts achieved during the fourth quarter. For the full year online sales finished almost 100 per cent up on the previous year.”

Full year after tax profit is expected to exceed NZ$33 million – an increase of at least nine per cent on last year’s $30.47 million.

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