Homeware hit to Briscoe second quarter sales
Sliding homeware sales over the last three months pulled down second quarter sales for Briscoe Group, but the retailer is anticipating revenue growth in the second half of the year.Briscoe Group today released unaudited half-year sales of $190.1 million f
Fri, 06 Aug 2010
Sliding homeware sales over the last three months pulled down second quarter sales for Briscoe Group, but the retailer is anticipating revenue growth in the second half of the year.
Briscoe Group today released unaudited half-year sales of $190.1 million for the six months to August – a rise of $4.8 million or 2.61% on the same time last year.
Sales were up 2.49% on a same-store basis.
But group managing director Rod Duke said pressure on sales had intensified during the last quarter and group sales of $93.3 million had dropped $1.8 million or almost 2% from the $95.1 million earned during the same quarter last year and 1.96 down on a same-store basis.
Homeware sales across its Briscoes stores were down 3.64% at $64.9 million for the three months to August, but up 1.73% for the half-year.
Second quarter sales of $28.4 million across the Rebel Sport stores were 2.22% ahead of last year and up 4.47% for the half-year.
Mr Duke said homeware sales had fallen away during unusually mild temperatures for April and May and as conditions remained tight among retailers in general.
Despite the tough operating conditions, he expected half-year results to show group earnings before interest and tax ahead of last year by around 30%.
“Sales and gross profit will be up on last year and costs have been well managed during this first six months.”
Half-year net profit is expected to be similar to last year’s $6.5 million, after the one-off impact of a $2.6 million tax adjustment related to recent tax changes in relation to depreciation on buildings.
Fri, 06 Aug 2010
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