Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Third Quarter Sales Increase 6.22%

Third Quarter Sales Increase 6.22%

The directors of Briscoe Group Limited announce that unaudited sales for the three months ended 31 October 2003 were $68.2 million, being 6.22% higher than the $64.2 million reported for the third quarter of last year.

On a same store basis, the group’s sales for the quarter were 0.49% ahead of those for the third quarter of last year.

The gross margin percentage generated for the third quarter was below the margin for the same quarter last year, consistent with the reduction in margins experienced for the first two quarters of this financial year.

Briscoes Homeware sales increased 7.77% to $45.9 million and Rebel Sport sales rose 3.18% to $22.3 million.

The group added two new stores during the quarter with the opening of the Lower Hutt Briscoes Homeware and Rebel Sport stores in late September. Briscoes Homeware stores now number 29 with total store area of 58,522 sqm. Rebel Sport store numbers increased to 15 with total store area now at 31,783 sqm, including the extension to the Botany Downs store completed during August. Further store openings are planned for Briscoes Homeware in Cambridge and for Rebel Sport in Porirua. Both stores are expected to open in December.

The October quarter sales figure takes unaudited group sales for the nine months ended 31 October 2003 to $209.1 million, a rise of 8.74% over the $192.3 million reported in the first nine months of last year. Briscoes Homeware sales increased 7.70% during this period, and Rebel Sport 11.12%.

Because of the move to calendar month end reporting, the first nine months of this year comprised four fewer trading days than last year. Adjusting for these four days and on a same store basis, the group’s sales for the nine months ended 31 October 2003 were 6.21% ahead of the same period last year.

On a same store, same days basis, Briscoes Homeware sales increased by 8.38% over the first nine months of last year, while Rebel Sport sales increased by 1.21%.

The directors expect the competitive retail environment to continue throughout the remainder of the financial year. The response to the challenging market conditions continues to be the delivery of the Group’s quality value proposition, with emphasis on store refurbishment, steady growth in the number of new stores, efficient management of stock and reinforcement of the branding of the Briscoes Homeware and Rebel Sport stores.

“We have resisted the ‘buy market share – no matter what it costs’ approach”, said Mr Rod Duke, Managing Director of Briscoe Group Limited. “We are very pleased with the new store opening programme for this year and extremely excited about a number of further opportunities for new stores and store upgrades which will happen next year.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>