Briscoe Group subsidiary Rebel Sport NZ has recorded a 4.05% increase in year-on-year sales for the third quarter of 2023.
This is a lift from NZ$67.8 million in Q3 2022 to $70.6 million in Q3 2023.
It is also a larger percentage increase compared to Briscoe Homeware, which lifted by 1.32% to $109.1 million.
Overall group sales lifted by 2.37% to $179.7 million for Q3 2023, with online sales making up 19.07% of the total.
Unaudited sales for the thirty-nine-week period from January 30, 2023 to October 29, 2023 were $548.9 million - an increase of 1.00% on the $543.5 million gained for the first three quarters of last year.
The group’s homeware segment increased sales by 0.62% during this period and the sporting goods segment by 1.64%.
“To post positive sales growth across both the homewares and sporting goods segments in an extremely tough trading environment, as highlighted in recent retail announcements, is an excellent achievement,” group managing director Rod Duke said.
“While pressure on margins continues to increase, our goal for the full year remains to protect around half of the 633 gross profit basis points gained during the two years ended January 2021 and January 2022.
“As we enter the final and crucial quarter of our financial year and with the general election behind us, we remain cautiously optimistic in relation to the retail environment and the economic conditions which impact consumer spending.”
The group doesn’t expect to replicate its record net profit after tax (NPAT) of $88 million last year, but is forecasting a full-year NPAT in excess of $80 million.