Briscoe sales up 10.5 per cent

Homeware and sporting goods retailer Briscoe Group said today first quarter sales rose 10.5 per cent.

The group, which owns Briscoes Homeware and Rebel Sport, said unaudited sales for the three months to April 30 were $82.4 million, compared with $74.6m for the same period a year earlier.

On a same store basis, group sales for the quarter were 5 per cent ahead of the first quarter of last year.

Gross profit margins were also higher, both in percentage and dollar terms, than the same year-ago period, managing director Rod Duke said.

"Briscoe Group has made a very pleasing start to the current year," he said.

Briscoes Homeware sales rose 11 per cent to $54.3 million, while Rebel Sport sales rose 9 per cent to $28.1 million.

On a same store basis, Briscoes Homeware sales rose 4.5 per cent for the quarter while Rebel Sport sales were 5.8 per cent ahead of last year.

Briscoe Group fared better than discount retailer The Warehouse, which yesterday blamed patchy sales and a slow start to winter for a modest 1.3 per cent rise in third quarter sales to $327m, as same store sales dropped 2.7 per cent.

Shares in Briscoe Group last traded yesterday at $1.43 against a year high of $1.48 and a low of $1.18.

The Warehouse closed 10c lower at $3.85 .

- NZPA