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Briscoe Group notches another record annual result

  • News
  • March 14, 2019
  • Radio New Zealand
Briscoe Group notches another record annual result

Briscoe Group has reported a record full year profit after a surge of sales going into the Chirstmas shopping season.

The company operates the Briscoes, Living & Giving and Rebel Sport chains made a net profit of $63.4 million compared with $61m the year before.

Group revenue rose 4.4 percent to $631.9m, with the company's gross margins improving slightly as it had better control of stock and improved online sales.

Managing director and majority shareholder Rod Duke said the retail environment remains tough.

"(The company) continues to contend with erratic consumer confidence and economic indicators making customers even more determined than ever to seek true value for money."

Briscoes had capital spending of $21.6m during the year, three quarters of it going on new shops and refurbishing current stores, while it held high levels of stocks to cope with demand from two new Rebel Sports stores and on-line shopping.

Mr Duke said all the signs were that retailers will continue to feel strong headwinds.

"Economic uncertainty had certainly tested consumer confidence; increased wage pressures, erratic fuel prices and a challenging New Zealand dollar, all factors which have and will continue to impact retailers' ability to maintain margins."

Briscoe's 19 percent holding in outdoor goods company Kathmandu returned a dividend of $6.4m.

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Global ice cream giant buys Tip Top for $380m

  • News
  • May 14, 2019
  • Radio New Zealand
Global ice cream giant buys Tip Top for $380m

New Zealand dairy co-operative Fonterra has confirmed the sale of its Tip Top brand to global ice cream giant Froneri for $380 million.

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Here's the wellbeing policies some of New Zealand's top companies are rolling out for 2019

  • News
  • May 14, 2019
  • Elly Strang
Here's the wellbeing policies some of New Zealand's top companies are rolling out for 2019

In 2019, companies are more focused than ever on the health and happiness of their staff, as wellbeing becomes increasingly seen as a key indicator of success along economic value by governments and organisations across the world. This is because while the corporate world has long seen the bottom line as the be all and end all, companies are increasingly taking a more holistic view and recognising that looking after the wellbeing of their people will in turn, make their bottom line healthier, too. We reached out to some of New Zealand's top companies and asked what they're focused on for this year and why. Here's what FCB, Isthmus, RUSH, Southern Cross, Xero and Trade Me responded.

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Newmarket’s Glamour boutique launches preloved pop-up store

  • News
  • May 14, 2019
  • Sarah Dunn
Newmarket’s Glamour boutique launches preloved pop-up store

Used clothing sales are booming worldwide, with the category expected to be bigger than fast fashion within the decade. Newmarket boutique Glamour is tapping into this trend with a new pop-up area in-store where preloved Glamour items are accepted for resale.

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Lincoln Gould to step down as Booksellers New Zealand CEO

  • Who's Where
  • May 10, 2019
  • The Register team
Lincoln Gould to step down as Booksellers New Zealand CEO

After 10 years at the helm of Booksellers NZ, Lincoln Gould has announced his retirement at the end of October.

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Christchurch restaurant closures prompt fears hardest winter is coming

  • News
  • May 9, 2019
  • Katie Todd & Radio New Zealand
Christchurch restaurant closures prompt fears hardest winter is coming

Central Christchurch hospitality operators fear they could be heading into the toughest winter to date.

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Tauranga’s Bayfair Shopping Centre to launch its dining precinct

  • Property
  • May 9, 2019
  • The Register team
Tauranga’s Bayfair Shopping Centre to launch its dining precinct

The first stage of the AMP Capital and Fisher Funds owned Bayfair Shopping Centre’s $115 million development was launched in December 2018, and now its new alfresco dining precinct is on track to launch at the end of this month.

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