Briscoe Group sales fell 2.58% on the year to $178.3 million in the first quarter, weighed down by weaker homeware sales.
Briscoes Homeware store revenue fell 4.66% to $103.6m compared with the first quarter last year, while Rebel Sport’s revenue grew 0.47% to $74.7m.
Group managing director Rod Duke said the period had proved difficult and the company is targeting a first-half net profit after tax target of “around $30 million”.
The company reported a net profit of $33.2m in the six months to July 28, 2024. Excluding a tax adjustment, net profit for the first-half period was $40.6m.
“We’re disappointed not to have matched last year’s group first-quarter sales,” Duke said.
