'I'm not throwing cash at them'
He's the great salesman, but can Briscoe Group's Rod Duke sell his bid to buy Kathmandu? Holly Ryan reports.
He's the great salesman, but can Briscoe Group's Rod Duke sell his bid to buy Kathmandu? Holly Ryan reports.
The dual-listed outdoor apparel retailer has hired Goldman Sachs as its adviser and there will almost certainly be push-back on the pricing of the deal.
Briscoe Group launched its full takeover of Kathmandu, offering 89.7 million of its own shares and $32.3 million cash for the 80.1 percent of the outdoor equipment and clothing chain it doesn't already own.
If successful the takeover would give Briscoe Group access to the Australian market, where Kathmandu already has 100 stores.
Briscoe Group's sales across its homeware and sporting goods retail chains rose 4.3 per cent to $119.8 million in the first quarter.
A leading retailer has welcomed moves towards charging GST on online purchases from overseas.
Briscoe Group, which operates the Briscoes, Rebel Sports, and Living & Giving stores, may introduce a customer loyalty programme to stoke growth in online sales.
Two annual meetings on Thursday highlighted the contrasting fortunes of Briscoe and Refining NZ.
Briscoe Group may use its expanding cash pile to invest in or acquire online retail businesses, managing director Rod Duke says.
Briscoe Group says annual profit climbed at least 9 per cent after a good Christmas sales period.
In an exclusive interview, the book and stationery chain's new owners tell Karyn Scherer about their plans for one of the best-known names in NZ retailing.
Retailers are struggling to keep up with demand for portable fans as customers seek relief from uncomfortably warm temperatures.
Briscoe Group said sales fell 1.9 per cent to $93.3 million in the three months to August.
Retailer Briscoe Group says first quarter sales rose 7.4 per cent from a year earlier to $96.8 million.