Rebel Sport's New Zealand operation has recorded a modest sales increase of 0.53 per cent for the first quarter of the 2026 financial year, as parent company Briscoe Group navigates a challenging discretionary retail environment.
The sporting goods segment generated NZ$75.1 million in sales for the 91-day period ended April 26, 2026, contributing to a group-wide result of NZ$180.8 million – up 1.37 per cent on the prior corresponding period.
Group managing director Rod Duke described the quarter as a "satisfactory start to the new financial year," noting that positive sales growth had been achieved across both the sporting goods and homewares segments. However, he flagged a notable deterioration in trading conditions as the quarter progressed.
"Escalating conflict in the Middle East placed renewed pressure on fuel prices, contributing to heightened inflationary concern, increased economic uncertainty and a further dampening of discretionary consumer spending," Duke said. "This sudden shift in sentiment had a noticeable impact across the broader retail sector during the latter part of the quarter."
April trading was further disrupted by extreme weather, including Cyclone Vaianu and severe rainfall across the lower North Island, which Duke said significantly reduced store traffic and, in some cases, forced temporary store closures.
On the margin front, Duke pointed to stabilisation of gross profit rates as a positive signal, noting that the improvement seen in the second half of last year had carried into the current financial year.
Inventory management also featured as a key operational focus, with stock levels closing the quarter in line with the prior year – a result Duke said reduces clearance risk heading into the remainder of the year.
The macroeconomic backdrop remains difficult, with New Zealand unemployment sitting around 5.4 per cent, inflation still elevated, and the Reserve Bank holding the Official Cash Rate at 2.25 per cent.
"Should geopolitical tensions continue to ease over coming months, we are cautiously optimistic that the recovery which was beginning to emerge as we commenced this current financial year could resume," Duke said, flagging the potential for a more favourable retail environment in the second half of the year.
Duke said the group's focus in the near term remains on "disciplined execution — balancing sales performance with margin protection, maintaining tight control of costs and inventory."