The New Zealand arm of Rebel Sport has reported a 1.34 per cent slip in sales in the second quarter, offsetting a total sales bump up at its parent company, Briscoe Group.
Briscoe also manages its eponymous home goods retailer, Briscoe Homewares.
For the 13-week second quarter to July 27, sales at Briscoe Group were up 2.07 per cent to $192.9 million. This was driven by a 3.97 per cent lift in sales at its homewares retailer.
The overall nudge up follows a slight dip in sales for the first half of 2025, which were 99.8 per cent of last year, at $371.3 million.
“We’re pleased to be able to record positive sales for this second quarter after the decline recorded for the first quarter,” group managing director Rod Duke said. “Homewares has bounced back well with growth of 3.97 per cent after the first quarter being impacted by the slow start to winter and the timing of significant promotional events.
“We were disappointed with the sporting goods sales decline of 1.34% for the quarter; however, these sales tend to be more sensitive to the strength of discretionary spend, which continues to reflect the ongoing tough economic environment and subdued consumer sentiment.”
Within the overall group sales for the first half, both its homewares and sporting goods segments closed at 99 per cent of last year’s sales, with homewares under by 0.11 per cent and sporting goods by 0.40 per cent.
The group’s net profit after tax (NAPT) is expected to be above $29 million.
Meanwhile, the share of online sales across the group was 19.97 per cent in the second quarter, up very slightly from last year. This comes as the group prepares to launch its new online front-end platform this month.
Duke added that Briscoe Group’s gross profit margin remains a major focus for him and his team. “We continue to see pressure as the impacts of the economic downturn are felt,” Duke said.
Another key focus for Duke is inventory, which he expects to close the half-year less than July 2024.
He also noted that interest income for the half-year will close around $2 million under last year as a result of lower interest rates and lower cash balances. This comes alongside the build of Briscoe’s new distribution centre at Drury, which Duke said is currently on time and within budget.
According to the group's 2024 annual report, the new distribution centre will provide five times the warehouse space of its existing centre, and is expected to open in the third quarter of 2026.
“We continue to see how highly sensitive New Zealand retail is to the ongoing economic challenges faced by all retailers,” Duke said. “We expect Group NPAT to close at not less than $29 million for the first half.
“As previously indicated, we anticipated the first half to be especially challenging, but continue to expect second half profitability to exceed the first half in a return to a more normalised shape of annual profitability. We remain hopeful that the economic recovery will gradually emerge as the year continues.”