Briscoe Group posted a 0.5% decline in third-quarter sales, reflecting a drop in sales of sporting goods that benefited a year earlier from the Rugby World Cup.
Group sales were $97.5 million, down from a record $98 million in the same period a year earlier. Homeware sales climbed 4.3% to $65.5 million, while sporting good sales fell 9% to $32 million. In the third quarter last year, the company had record sport good sales of $35.2 million.
Same-store sales fell 2.5%, with a 1% increase in homewares and an 8.9% drop for sporting goods.
"It was always going to be a huge challenge for the group to go close to matching last year's third quarter performance, especially for the sporting goods segment, given the sensational quarter we experienced last year as a result of the Rugby World Cup," managing director Rod Duke says in a statement.
The retailer was "cautiously optimistic" about the outlook and expects to exceed last year's full-year profit of $27.53 million. He wasn't more specific.
"The extent to which we exceed this will of course be heavily influenced by the strength or otherwise of the retail market over the Christmas period."
Briscoe shares last traded at $2.10 and have soared 56% this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Where the polls stand on the eve of the first US presidential debate
- UPDATED: Australia's Bapcor mounts $322.5m takeover bid for Hellaby
- Commerce Commission reveals the most complained-about companies
- Editor's Insight: How the candidates fared in the first presidential debate
- MARKET CLOSE: NZ shares drop, Orion Health and Xero lead index lower while Air NZ bounces
Most listened to
- No knockout blows in first presidential debate, says NBR's Nevil Gibson
- Intueri's problems raise questions for the board, says Martin Watson of the Shareholders Association
- ANZ's Philip Borkin and NBR's Jason Walls on what's next for the kiwi dollar on Currency Talk
- AngelEquity's Bill Murphy on why his platform won't cater for retail investors
- Spark exec Jason Paris defends his company's honour after it tops ComCom's most-complained-about list
- FMA lawyer Justin Smith counters the Goldman Sachs defence