8 May 2012

Briscoe Group lifts first quarter sales

6:43 pm on 8 May 2012

Listed retailer Briscoe Group has reported a rise in first quarter sales as it maintains strong campaigns and sells new products.

The owner of the 79 shops in the Briscoes, Living and Giving, and Rebel Sport chains made $102.5 million in sales, which is 6.46% higher than the same period last year.

On a same-store basis, the group's sales were 7.66% higher. This comparison excludes six Living and Giving stores that closed in the past year and also stores in Christchurch that were disrupted after the February 22 earthquake.

Sales at homeware stores increased 5.72% to $66.1 million, while sporting goods sales increased 7.84% to $36.4 million. The three chains earned $102.5 million in the first quarter, a lift of 6.46% on the same period last year.

Managing director Rod Duke says Briscoe Group benefited from consistent quarterly rises in the past year.

Mr Duke says he can't point to a silver bullet for the sluggish economy, but he doesn't expect things to get worse.

"We seem to have made significant gains in the market at the expense of, perhaps, a number of other retailers," he says.

"The marketing campaigns and colour catalogues that we put into the market, the merchandise assortments that we give to people - it all seems to be resonating particularly well with our customer base".

On Tuesday, Briscoe Group's share price finished up 4 cents at $1.57.