Support our sponsors:

NZX 50 Index	4611.96	2.40
S&P/ASX 200	5191.20	0.00
Dow Jones Industrials	14839.80	21.00

Twitter

Facebook

RSS

Briscoe 4th-qtr sales rise 4.7%

Thursday 2nd February 2012

Text too small?

Briscoe Group, the home ware and sporting goods retailer, posted a 4.7 percent gain in fourth-quarter sales and said a strong finish to the year drove annual profit up at least 25 percent.

Sales in the 13 weeks ended Jan. 29 rose to $146 million from $139.4 million in the fourth quarter a year earlier, the Auckland-based retailer said in a statement today. Sales at stores open at least 12 months rose 9.1 percent.

Fourth-quarter revenue lifted annual sales by 4.5 percent to $438 million, resulting in full-year profit of at least $27 million, from $21.6 million a year earlier, said Rod Duke, managing director and major shareholder. Briscoe stock has climbed 4.4 percent in the past 12 months, while an index of consumer stocks on the NZX dropped 10.5 percent.

“The market responded very favourably to our marketing initiatives during the lad up to, and throughout the crucial Christmas trading period,” Duke said. “”While competition remained fierce across most retail sectors, which placed some strain on gross margins, sales for the group were consistently strong during December and also through January.”

Sales at the company’s home-ware stores gained 4.8 percent to $101.6 million in the fourth quarter and revenue at its Rebel Sport outlets were up 4.6 percent to $44.4 million. On a same-store basis, sales were up 10.7 percent and 5.7 percent respectively.

Briscoe expects to post its annual results on March 9. Its shares last traded at $1.42.

(BusinessDesk)

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.