Briscoe Group sales remain stable despite lockdowns

Auckland stores have been closed for 75 of the total 91-day quarter. Photo / NZME

By RNZ

Third quarter sales fell 14 per cent over the year earlier to $138.5 million for the period ended 31 October, with Rebel Sport sales falling 18 per cent and homewares down 11 per cent.

The company said all its stores were closed for the first three weeks of the lockdown beginning 18 August, with Waikato stores closed for 49 days, Northland for 33 days and Auckland for 75 of the total 91-day quarter.

"The financial impact of nationwide store closures, as we know from the previous national lockdown, is immediate and severe and as previously disclosed, the final two weeks of August sales were negatively impacted by around $17m," managing director Rod Duke said, adding that online sales grew 98 per cent over the quarter, representing 38 per cent of the group's total sales.

"The group's online performance has again been instrumental in minimising the potential impact of these latest lockdowns," he said.

Sales for the nine months ended 31 October also painted a more positive picture - up nearly 10 per cent to $496.9m, over the year earlier period.

He said the company was looking forward to the upcoming Black Friday sales, and the anticipated reopening of Auckland's stores.

"Despite the significant disruptions experienced during the 3rd quarter and into the start of November, we are confident of producing an NPAT (net profit) above last year's record of $73.2m and up to $85m," he said, assuming Auckland stores remain open from 10 November.