Briscoe Group has had third quarter profits increase by 3.7 percent on a year-year basis. As profits continue to climb, the chain is planning further store openings and refurbishments.
Several years now Brsicoe Group’s profits have continued to climb, with the chain seeing both homeware and sporting good sales rise in the third quarter.
The Group’s homeware segment increased sales by 4.16 percent during this period and the sporting goods segment by 3.09 percent. For the whole group, from January 2018 to October 2018, the 3.77 percent falls at $410.5 million.
Group managing drector, Rod Duke said, “The Group has delivered satisfactory sales growth during this third quarter as well as increasing gross profit margin percentage in a highly competitive retail market.
“We continue to optimise our network of online and bricks and mortar stores and look forward to opening brand new Briscoes Homeware and Rebel Sport stores at Papanui in Christchurch on 21st November. The new Briscoes Homeware store replaces the existing store at Northlands and will almost double the retail space of the current store while the new Rebel Sport store will be the biggest Rebel Sport store in Christchurch.”
As the third quarter forecast comes around, Briscoes is set to open three more stores. Morningside, Silverdale, and Mount Roskill are set to be open in the next two years.