The New Zealand arm of Rebel Sport – owned and managed by Briscoe Group – has reported a 7.33 per cent slip in sales, dragging on its parent company’s total sales for the third quarter to October 26.
Briscoe Group managing director Rod Duke said its sporting goods segment sales were impacted by the upgrading of its Panmure Rebel Sport store, located 9 kilometres southeast of Auckland, into a new flagship ‘Rebel X’ concept.
“This exciting project is progressing well and is set to redefine sports retail in Australasia, featuring elevated product ranges, immersive customer zones, and integrated retail media,” Duke said.
The store is on track to open in late November.
Briscoe Group’s total sales in the third quarter were down 1.76 per cent, with the drag offset by a 1.8 per cent lift in its homewares retail business. Briscoe Homeware makes slightly more revenue than Rebel, with the group’s half-year accounts showing its revenue contribution to the group was around 61 per cent.
Total group sales for the third quarter were NZ$171 million.
“The third quarter presented a mixed trading environment, with continued pressure on consumer sentiment and discretionary spending,” Duke said. “Despite these challenges, the Group remained focused on executing its strategic priorities, maintaining strong inventory discipline, and protecting gross profit margin performance.
“With inventory in excellent shape at half-year, we made a strategic decision to shift focus from driving top-line sales to stabilising gross profit margin percentage.”
At the half-year, Briscoe Group invested around 150 basis points of gross profit margin to deliver flat sales. Duke said that by adjusting promotional activity early in Q3, the group significantly reduced the decline in gross profit margin percentage in relation to last year’s level, with sporting goods actually exceeding the prior year’s margin by over 50 basis points.
“While total group sales for the quarter were down, homeware delivered growth of 1.80 per cent and reduced its decline in gross profit margin percentage compared to the first half. Importantly, both segments have maintained the quality and level of inventory heading into our critical fourth quarter with total Group inventory closing the October period over $3 million under last year.”
In the financial year to October 26, the group’s total sales were NZ$542.3 million, down by 0.71 per cent. The sporting goods segment sales were down 2.64 per cent, with homewares up 0.49 per cent.
Online sales as mix of total group sales were 19.08 per cent, half a percentage point higher than the third quarter.
Duke confirmed that, during the quarter, the group’s online team migrated its online stores to new platforms and launched a new direct-to-customer platform called Marketplacer.
The group is also on track to finish building its new distribution centre in Drury in early 2026.
"Overall, we’re satisfied with the group’s performance through the first three quarters,” Duke said. “In a market still searching for consistent momentum, our team has delivered operational excellence while also advancing major strategic initiatives. A huge thank-you to the entire team.”
Speaking on financial year-to-date sales, Duke said with that being less than 1 per cent down, alongside a “stabilised” gross profit margin, robust inventory and ongoing projects, the group is set for the final quarter.
“Heading into Q4, we intend to continue to optimise the relationship between sales and gross profit margin. Margin and cost pressures continue to affect the bottom line but we remain hopeful that recent OCR reductions will boost consumer confidence and drive retail spend during the crucial final trading period,” Duke said.
“Looking ahead, we remain cautious about the retail environment. While we’re encouraged by recent monetary policy shifts, in the absence of a clear uplift in consumer sentiment, our full-year net profit after tax guidance (to 25 January 2026) remains at around $60 million.”