{"id":122143,"date":"2025-11-07T02:25:09","date_gmt":"2025-11-07T02:25:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/122143\/"},"modified":"2025-11-07T02:25:09","modified_gmt":"2025-11-07T02:25:09","slug":"briscoe-group-sales-dip-as-rebel-sport-slump-offsets-homeware-gains","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/122143\/","title":{"rendered":"Briscoe Group sales dip as Rebel Sport slump offsets homeware gains"},"content":{"rendered":"

However, over the third-quarter total group sales fell by 1.76%, driven by a decrease in sporting goods sales of 7.33%. Homeware sales grew by 1.8% in comparison.<\/p>\n

Duke said sporting goods sales were impacted by the transformation of its Panmure Rebel Sport into a new flagship \u201cRebel X\u201d concept, which was on track to open in late November.<\/p>\n

\u201cThe third quarter presented a mixed trading environment, with continued pressure on consumer sentiment and discretionary spending. <\/p>\n

\u201cDespite these challenges, the group remained focused on executing its strategic priorities, maintaining strong inventory discipline, and protecting gross profit margin performance.\u201d<\/p>\n

Duke said it had made a strategic decision to shift its focus from driving top-line sales to stabilising its profit margin.<\/p>\n

\u201cAt half-year, the group had invested around 150 basis points of gross profit margin to deliver flat sales. By adjusting promotional activity early in Q3, we significantly reduced the decline in gross profit margin percentage in relation to last year\u2019s level, with sporting goods actually exceeding the prior year\u2019s margin by over 50 basis points.\u201d<\/p>\n

Sporting goods sales appear to be under pressure recently, with the owner of two Stirling Sport\u2019s stores forced to place them into liquidation earlier this week<\/a>.<\/p>\n

\"BriscoeBriscoe Group chief executive Rod Duke confirmed the group’s flagship Rebel Sport store will open later this month. Photo \/ Dean Purcell.<\/p>\n

Duke said while total group sales for the quarter were down, homeware delivered growth of 1.80% and reduced its decline in gross profit margin percentage compared to the first half.<\/p>\n

\u201cImportantly, both segments have maintained the quality and level of inventory heading into our critical fourth quarter with total group inventory closing the October period over $3 million under last year.\u201d<\/p>\n

Progress continues to be made on the group\u2019s new Drury distribution centre, with the build phase remaining on track for completion early next year.<\/p>\n

\u201cOverall, we\u2019re satisfied with the group\u2019s performance through the first three quarters. In a market still searching for consistent momentum, our team has delivered operational excellence while also advancing major strategic initiatives. A huge thank-you to the entire team.\u201d<\/p>\n

Looking ahead, Duke said the business remains cautious about the retail environment but was encouraged by recent monetary policy shifts, namely reductions in the official cash rate.<\/p>\n

However, in the absence of a clear uplift in consumer sentiment, the group is still guiding to a full-year net profit of around $60m.<\/p>\n

\u201cWith sales less than 1% behind last year, gross profit margin stabilised, inventory in great shape, and transformative projects well progressed, we are well placed to maximise the final quarter.<\/p>\n

\u201cHeading into Q4 we intend to continue to optimise the relationship between sales and gross profit margin. Margin and cost pressures continue to affect the bottom line but we remain hopeful that recent OCR reductions will boost consumer confidence and drive retail spend during the crucial final trading period.\u201d<\/p>\n

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n

Listen and subscribe to the Today in Business<\/a> podcast \u2013 the top headlines from the NZ Herald business team summarised and delivered by an artificial intelligence (AI) voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"However, over the third-quarter total group sales fell by 1.76%, driven by a decrease in sporting goods sales…\n","protected":false},"author":2,"featured_media":122144,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[806,1558,11231,15212,138,85586,2950,3311,10666,30276,3936,3555,4480,85585,13988,658,209,28450,305,15217,10670,3935,111,139,69,85583,13420,40441,10715,644,667,8603,85584,8262,2022,46453,1361,3755,1533],"class_list":["post-122143","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-as","tag-been","tag-boost","tag-briscoe","tag-business","tag-cashrate","tag-confidence","tag-consumer","tag-cuts","tag-dip","tag-director","tag-drag","tag-drive","tag-duke","tag-gains","tag-goods","tag-group","tag-groups","tag-have","tag-homeware","tag-hopeful","tag-managing","tag-new-zealand","tag-newzealand","tag-nz","tag-offsets","tag-quarter","tag-rebel","tag-remains","tag-retail","tag-sales","tag-slump","tag-softer","tag-spending","tag-sport","tag-sporting","tag-that","tag-third","tag-will"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=122143"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/122144"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=122143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=122143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=122143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}