Sporting goods and online drives record sales for Briscoe Group
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New Zealand’s largest retailer of fishing tackle has reported a 5.84% increase in sales from its sporting goods division for the financial year ended January 26th, 2020.
The Briscoe Group reported sales across the company of $209.7m – up 1.84% – in Q4, and £653m – an increase of 3.34% – for the year. Its online sales grew by 16.2% over the 12-month period.
Managing Director Rod Duke said that its sporting goods segment, which is represented by Rebel Sports, continued to post impressive sales throughout the second half of the year.
He said: “The group has produced a satisfactory performance overall for the final quarter which saw it post record quarterly sales of nearly $210m and over $650m for the full year.
“Consumer spending patterns continue to change with a huge concentration of sales in relation to Black Friday promotions now influencing the traditional steady sales build-up through to Christmas.
“We operate in highly competitive markets, and while the trend towards major event-based campaigns, such as Black Friday and Boxing Day, have wide customer appeal, they do come at the cost of gross profit percentage.
“Our online business continues to produce excellent sales growth, finishing the year 16% up on the previous year, and now represents just over 11% of total group sales. We will continue to focus on our online offering while maintaining our proven strategy of adding stores to our network as and when we identify opportunities.”