Briscoe Group sets another sales growth records

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Photo: RNZ / Simon Rogers

Rebel Sport and household goods retailer Briscoe Group has beat last year’s record sales growth by just under 1 percent.

Both retail segments saw sales growth, bringing the total for the year ended January to $792 million, an increase of 0.78 percent on last year’s $785.9m.

The homeware segment increased sales by 0.54 percent during the full year and the sporting goods segment increased by 1.17 percent.

Group managing director Rod Duke said a flexible business model helped the company exceed expectations.

“To post positive sales growth across both trading segments in a year widely regarded as extremely difficult for retail trade, is an outstanding achievement,” he said.

“We expect the group’s final reported full-year margin to be at least 42.3 percent,” he said.

“As previously reported the group will not match last year’s net profit after tax of $88.4m but we do now expect the result to be in excess of $83m.”

He said 2024 was likely to be another difficult trading period.

Briscoe expected to report its full-year result, including announcement of final dividend, on 13 March.