Briscoe sales reach record levels
Retailer Briscoe Group has topped
$600 million in annual sales for the first time , boosted by record sales on Boxing Day and the increasingly popular Black Friday.
The group, which owns Briscoes Homeware, Living & Giving and Rebel Sport, says in a NZX trading update that sales increased
3.5 per cent to $603.1m for the year to January 28.
Homeware sales were up 3 per cent to $383.8m, while sporting goods sales rose by 4.3 per cent to $219.3m.
Briscoe Group managing director Rod Duke said he was pleased with the result considering the companies operated in ‘‘highly competitive markets’’.
Duke attributed record sales to the company’s the traditional store format and promotional campaigns, which ‘‘continue to resonate with our customers’’.
‘‘This was particularly evident during Black Friday and Boxing Day. Both were record days for us.’’
Black Friday was originally a United States post-Thanksgiving shopping holiday that has expanded around the world in recent years.
It is now almost as big a shopping day as Boxing Day.
Both days were the ‘‘biggest sales days ever’’ for Briscoes Homeware, while Boxing Day was the biggest sales day ever for the group, Duke said.
This included online sales, which were up more than 30 per cent on the previous year, he said.
Briscoe Group expects a profit after tax of about $61m on March 12, up 7.6 per cent on the previous year.
The company’s shares were trading at $3.50 on Friday afternoon, up 10 cents.