STRONG FINAL QUARTER FOR BRISCOES

By Wares February 12, 2019 Industry news

Briscoes' year-end numbers released yesterday reflect a strong final quarter.

Following JB Hi-Fi NZ's encouraging Q4 result, Briscoe Group yesterday also released positive numbers for its final quarter of 2018 and full year unaudited result (29 Jan 2018 to 27 Jan 2019).

For the important fourth quarter, overall sales represent a new high at $206 million (+5.8%), with homeware sales +5.7% at $132.5 million and sporting goods sales +6.1% at $73.5 million.

Overall Q4 same-store (comparable) sales were +5.1%, +6.1% for homewares and +3.4% for sporting goods.

For the full year, total group sales were $631.9 million (+4.4% on FY2017), for homewares $403.2 million (+4.7%) and for sporting goods $228.8 million (+4.0%).

Full-year group same-store sales were +3.1% on the previous year, +3.4% for homewares and +2.5% for sporting goods.

With the final audited numbers set for release in March, the expectation is that full-year group Gross Profit % will beat last year's "comfortably" and for a full-year NPAT of around $63 million (+2.7%).

Overall online sales are also expected to be around +27% on the previous year with the promise of a new online platform going live later this calendar year.

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