Despite challenging conditions.
Briscoe Group has reported a 3.47% increase in total sales to $603.09 million for the full year ended 28 January, 2018. Same stores sales were up 3.11% and net profit after tax (NPAT) saw a 3.2% lift to $61.32 million.
Briscoe Group managing director, Rod Duke said it was a very satisfactory result in what had been a highly challenging year.
“We had fires in Christchurch in February; a major flood in April; a relatively late start to winter across the country; intense cold, snow and heavy rains in many parts of the country during July; and then the British & Irish Lions tour, which sucked up discretionary spending,” he said.
“Given this background, we are pleased with the way our in-store teams and support functions have continued to drive growth and manage inventory throughout the year,” he added.
Expansion and enhancement of its Briscoes and Rebel Sport stores remained an investment priority for the group, with $5.4 million invested in developing group-owned property in Wellington City, Pentone, Mt Albert and Silverdale, $6.4 million invested in the fit-out and refurbishment of new and upgraded stores, and more than $2 million invested in upgraded security camera systems, online platform improvements, enhancements to system software and hardware upgrades.
Briscoe Group also opened new fulfilment hubs in Whanganui and Hamilton and plans to roll out a click and collect service, following a successful trial through the Botany homeware store.