The New Zealand arm of Rebel Sport has reported a slight nudge-up in sales for the first quarter to April 27.
This has offset a 4.66 per cent fall in its sister retailer Briscoe Homeware, adding to a total revenue slip of 2.58 per cent across the Briscoe Group business to $178.3 million compared to the first quarter of the 2024 financial year.
The group’s sporting goods sales increased by 0.47 per cent to $74.7 million, while homewares fell to $103.6 million
The lift in Rebel Sport sales across New Zealand was driven by women’s apparel, supporters clothing and sporting equipment, according to Briscoe Group CEO Rod Duke.
“This first quarter has proved difficult as we continue to trade within a struggling retail environment,” Duke said. “While we’re disappointed not to have matched last year’s Group first quarter sales, the closeness in timing of Easter and ANZAC Day wasn’t ideal for maximising promotional activity and the warmer temperatures compared to last year also impacted sales of heating products.
“We estimate the negative impact on Briscoes Homeware in relation to heating related products to be more than $2 million compared to last year.
“For Rebel Sport to achieve sales growth is very pleasing with solid sales across most areas.”
Duke added that the group’s margins remain under pressure, as expected, however he reports recent recovery in gross profit margin following the challenging start to the year.
“Despite the slower start to the winter season, inventory continues to be well controlled and finished the quarter lower across both segments when compared to the prior year,” Duke said. “We anticipate New Zealand retail to remain highly challenging throughout the remainder of 2025 and as previously highlighted, continue to look to protect the level of profitability achieved last year.
“We are currently targeting first half net profit after tax (NPAT) of around $30 million and expect the group to return to a more normalised profit shape for the full year with second half profit exceeding that achieved for the first half.”