Briscoe first quarter sales rise 7.4 pc

Briscoes Homeware Store. Photo / Bay of Plenty Times

Retailer Briscoe Group says first quarter sales rose 7.4 per cent from a year earlier to $96.8 million.

On a same store basis, sales for the quarter to May 2 were 7.2 per cent above the first quarter for last year.

While the gross profit generated for the quarter was ahead of last year, the gross margin percentage was slightly below that for the same quarter last year, reflecting the continued competitiveness across the retailing industry, the company said today.

Homeware sales rose 7.9 per cent to $63.3m, while sporting goods sales were up 6.5 per cent to $33.5m.

On a same store basis, homeware sales increased 7.6 per cent for the quarter while sporting goods sales were 6.5 per cent ahead of last year.

Group managing director Rod Duke said that while margins were under pressure through the period, strong sales growth had enabled group profit to track ahead of last year.

The group's operations include Briscoes Homeware, Living & Giving, Urban Loft, and Rebel Sport.

-NZPA