Briscoe Group has made a record full-year profit as sales top the $600 million-dollar mark. The group credits the profit to strong sales in the fourth quarter.
Briscoe Group, owners of both Briscoes and Rebel Sport, saw total sales rise by 2.6 percent to about $194 million in the 13 weeks ended January 28.
A strong fourth quarter was credited towards the sportswear sector which saw sales rise 5.1 percent, or a 4.9 percent same-store gain, of $69 million.
Although homeware was down 0.3 percent on a same-store basis, sales climbed by 1.3 percent to $124.8 million. For the full year sales rose 3.5 percent to $603 million as homeware gained 3 percent to $384 million and sporting goods sales were up 4.3 percent to $219 million.
Managing director, Rod Duke, says gross percentage should be expected to be lower as intense retail competition continues to grow, both here and internationally.
"We operate in highly competitive markets, and it is a credit to the whole team that we have once more delivered a record performance."
"Our traditional store format and promotional campaigns continue to resonate with our customers. This was particularly evident during Black Friday and Boxing Day – both were record days for us."