Published 4 May 2009
Briscoe Group Ltd said on Friday unaudited sales for the first trading quarter ended 26 April were $90.2 million, 0.09% lower than the $90.3 million a ear earlier. On a same-store basis, the group’s sales for the quarter were 0.94% behind the first quarter for last year, which group managing director Rod Duke said reflected the continued competitiveness across the retailing industry. Despite the relatively flat sales, the gross margin percentage & ebit were up. Sales for the group’s homeware segment decreased by 3.35% to $58.7 million, while sporting goods sales increased by 6.61% to $31.5 million. On a same-store basis, homeware sales decreased by 4.63% while sporting goods sales were 6.61% ahead. Mr Duke said Briscoe had removed a tier of operational management and realigned store management remuneration so it’s linked more closely to performance of their stores. “At this stage we are expecting to report a bottom-line profit for the half-year to 26 July that is ahead of the first half of last year.”
Attribution: Company statement, story written by Bob Dey for the Bob Dey Property Report.