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
- Pumpkin Patch warns its shares are worthless
- Auckland Airport's job skills hub extended to other local companies
- Spark boss bins decoder but can't escape Sky
- Red meat lobby group throws in the towel after bitter battle with Beef & Lamb
- NZ dollar falls against broadly stronger greenback after Draghi comments
Most listened to
- John Key talks up the FTA with India, ahead of his trip to the sub-continent next week
- Dick Quax challenges Phil Goff on housing market. He explains what he wants the mayor-elect to do
- Sky TV’s John Fellet reflects on the highlights and lowlights of 25 years with the company – plus its merger prospects
- Auckland Airport's Adrian Littlewood on what's being done to sustain new airline routes
- Super Fund CEO Adrian Orr on its new climate change strategy