Briscoe looking up after a trying year

Listed retailer Briscoe Group, hit by fierce competition, rising costs and falling sales in the past year, says its strategy rejig continues to show signs of working.

Chairwoman Rosanne Meo told the annual meeting yesterday that competitive conditions had become more trying in the past 12 months.

"Nevertheless, there are clear indicators of improvement in performance as the changes we have made take effect."

Last year, the company adopted new marketing and stocking strategies to combat reduced sales. It is now holding fewer major sales promotions and is not discounting as deeply.

April-quarter same-store sales were 5.76 per cent ahead of a year earlier.

- NZPA