Briscoe Group deliver with record results of $59.42 million

  • News
  • March 15, 2017
  • Courtney Devereux
Briscoe Group deliver with record results of $59.42 million

Briscoe Group has had another record financial year as net profits rise to 59.4 million NZD or 26.5 cents per share.

In the 52 weeks ended January 26, the report stated that the retailer widened gross margins to 41.07 percent from 40.49 percent in 2015 and 38.9 percent the year before.

Briscoe Group who owns Briscoes, Rebel Sport, and Living and Giving are reportedly remaining cautiously optimistic about the next financial year according to Rod Duke, industry chief executive.

“The focus we place on managing and improving our retail brands underpins our strong profit growth of recent years as we continually drive to improve the way we do things in every area of the business."

Rod Duke, industry chief executive 

Duke said the result was an increase of 77 percent on the result from three years ago at an annual growth rate of 21 percent for the same period.

“The relatively late start to summer and unsettled weather patterns in most parts of the country made the selling of seasonal products a little tougher, but by identifying the issues quickly and holding our nerve, we have sold through seasonal stocks at an acceptable rate, protecting both margin and our closing inventory position," Duke said.

In a time when homeware store obsession is at its peak, it is no wonder that Briscoes increased their sales by 40 percent. Accounting for six percent of the retailers cool $582.8 million in revenue.

The Briscoe Group board declared a final dividend of 11c per share, payable on March 31, taking the annual payout to 18c, up from 15.5c last year and 14c the year earlier.

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More than half of retailers aren’t meeting their sales targets

  • News
  • August 16, 2017
  • Sarah Dunn
More than half of retailers aren’t meeting their sales targets

The quarter to June 30th has been a disappointing one for the 51 percent of retailers, according to Retail NZ’s latest Retail Radar Report. More than half of the respondents failed to meet their sales targets, citing aggressive competition and constant discounting; competition from foreign websites; and consumer uncertainty caused by the upcoming election.

Read more
 
 
 
 

The Consequential Truth of Cyber Crime

  • In Association with NZI
  • August 16, 2017
The Consequential Truth of Cyber Crime

There are estimated to be 500,000 companies in New Zealand - more than half of those businesses don’t have a cyber crime response plan, according to PWC’s 2016 Global Economic Crime Survey.

Read more
 
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