Briscoe Group’s strong finish to the year
Briscoe Group’s Q4 result to end January 2016 shows homeware sales as $125.9 million (+11.32%, or +4.49% on a same store basis). For the full year, homeware sales were +6.13% and, on a same store basis, +3.78%.
Noting an increase in online sales of no less than 40%, Managing Director, Rod Duke, says the Group expects to finish “significantly ahead of last year” in its full year audited result which is due in March.
Harvey Norman’s tough NZ FY 2015
Released in January, Harvey Norman’s New Zealand operation for the year ended 30 June 2015 recorded sales of NZ$58.5 million, up from $56.8 million the year before (+3?%), along with a fall in Net Profit to NZ$25.5 million, down from $34.2 million the previous year (–25.4%).
JB Hi-Fi keeps on keeping on
Following strong sales in November and December, the half year to 31 December for JB Hi-Fi saw total sales of just over AU$2 billion (+7.7%), comparable sales up +5.2% and a handy overall GP increase of +7.6%.
For the New Zealand arm, total sales were NZ$127.3 million for the half year (+12.7%) with a GP increase of +12.9%. The NZ operation’s EBITDA however was down at –4.2%.
The Kiwi growth was driven by two new store openings and as much as $8.4m in revenue from 3rd part paid content cards, without which comparable sales were –1.8%. NZ Gross Margin was 18.1% (+4 bps).
Overall online sales were +28.9% at AU$63m or 3% of total sales. Also reported were overall January 2016 sales which were +10.2% with comparables +6.5%.
Smiths City: modest top line fall
In January, Smiths City revealed its half year results to end October 2015. Top line revenue fell by a modest 2.9% to $106 million for the 6 months, however the bottom line (profit after taxation) fell by a massive 40.1% to $2.55 million.
Principal causes for the fall in profitability stem from “extraordinary items relating to the Christchurch property as well as one-off restructuring costs” (of which more to come), while a softish South Island market was tempered by improved trading further north.
The Warehouse Group’s H1 +15-20%
TWG announced its Net Profit After Tax (NPAT) for the Group for the first half year of FY 2016 (to 31 January 2016) is expected to be between $43-45 million, +15%-21% on the same period last year.
No Noel Leeming results were broken out during the announcement. Full year profit guidance will be given at the release of the half year results on 11 March 2016.