Briscoe Group (ASX:BGP) has defied a challenging retail climate to post record full-year sales of NZ$798.8 million, underpinned by a powerful surge in the final quarter.
For the 13-week period ended Jan. 25, the group saw sales climb 4.58% to NZ$256.6 million, with the sporting goods segment leading the charge with a 6.46% increase, while homeware sales rose 3.45%.
Group Managing Director Rod Duke attributed the result to a strategic pivot in the second half of the year.
After tracking behind previous figures for the first nine months, the group narrowed its gross margin decline from 154 basis points in the first half to approximately 75 basis points in the second.
The disciplined approach is expected to result in a full-year gross profit margin of 39.20%.
Furthermore, the company’s digital transformation reached a milestone as online sales hit 20.04% of total revenue for the first time, following a migration to the Adobe platform.
Efficiency remained a core focus, with total overhead costs rising less than 1.5% despite widespread inflationary pressures.
Inventory management also improved, with year-end stock levels expected to be at least NZ$5 million lower than the previous year.
Looking ahead, Briscoe Group anticipates a full-year net profit after tax between NZ$59 million and NZ$60 million.