Rebel Sport in New Zealand has delivered another quarter of sales growth, outperforming its Briscoes Homeware sister business.
The NZX and ASX-listed retailer reported unaudited group sales of NZ$174.4 million (around A$145 million) for the 13 weeks to October 25, up 1.98 per cent on the NZ$171.0 million recorded in the same period last year.
Sporting goods sales rose 3.99 per cent for the quarter, following 4.84 per cent growth in the second quarter. Group managing director Rod Duke credited the result to the brand and the teams behind it.
“This sustained performance is particularly pleasing and reflects the ongoing strength of the Rebel Sport brand, together with the efforts of our merchandise, marketing and store teams in responding to changing customer needs,” Duke said.
The homewares segment, which trades as Briscoes Homeware, returned to growth of 0.82 per cent for the quarter, after a 2.17 per cent decline in the second quarter.
Group online sales grew 5.77 per cent, or NZ$1.8 million, with sporting goods online sales up 4.34 per cent. Online accounted for 19.17 per cent of group sales, up from 18.48 per cent a year earlier.
For the 39 weeks to October 25, group sales reached NZ$548.6 million, up 1.17 per cent. Sporting goods grew 3 per cent over the period, while homewares was up 0.06 per cent.
Briscoe Group also reported that the decline in its gross profit percentage continued to narrow against prior periods. Duke said the business was balancing sales growth against margin protection in what he described as an extremely promotional market.
During the quarter, Rebel Sport relocated its Riccarton store to Tower Junction in Christchurch and refurbished its Colombo Street store in the same city.
Despite the improved sales momentum, the group noted that profitability remained under pressure from elevated fuel prices, subdued discretionary spending, a weaker New Zealand dollar and consumer caution around the general election.
Operating costs for its new North Island distribution centre and spending on an SAP S/4HANA upgrade are also weighing on current-year earnings.
Briscoe Group expects full-year net profit after tax of up to NZ$55 million, depending on fourth-quarter trading. Duke said the benefits of the distribution centre and systems investments should become increasingly evident in the 2027/28 financial year.