1st Quarter Sales to 2 May 2021

Briscoe Group Limited is a company incorporated in New Zealand and registered in Australia as a foreign company under the name
Briscoe Group Australasia Limited (ARBN 619 060 552). It is listed on the NZX Main Board and also the Australian Securities Exchange
as a foreign exempt entity. (NZX/ASX code: BGP).



1
st
Quarter Sales to 2 May 2021


The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce that unaudited sales for
the first trading quarter ended 2 May 2021 (91 days) were $173.1 million, being 78.42% higher than
the $97.0 million achieved for the same quarter of last year. It is important to note that the first
quarter for last year was significantly negatively impacted with 33 days of store closures as a result
of the Covid-19 Level-4 national lockdown. A more relevant period to compare to is the first quarter
of 2 years ago, against which this first quarter performance represents an increase in sales of
14.94%.

First quarter sales for the Group’s homeware segment increased by 81.43% to $104.6 million, while
sporting goods sales increased by 74.01% to $68.5 million. Compared to the same quarter 2 years
ago the Group’s homeware segment increased by 15.32% while sporting goods increased by
14.37%.

Group Managing Director Rod Duke said, “The increased consumer demand experienced towards
the end of last year has continued through into this first quarter. Gross margin has also continued to
be strong for the Group, delivering ahead of expectations. The massive disruption to trading from
Covid-19 enabled us to implement improvements to the way in which we analyse and construct our
promotional activity and also to how we process and manage the flow of inventory through the
business.

“Despite the Group’s strong start to the year we are acutely aware of the possible pressure on
consumer spending with the gradual reopening of the country’s borders. It’s widely recognised that
some of the increased retail spend experienced during the last twelve months has been a
reallocation of spend which would otherwise have been used for international travel. Whilst we do
not expect to deliver the same significant increase in sales for the second quarter as achieved in
this first quarter, we are confident that sales for the half-year will be comfortably ahead of the
$292.4 million reported for the first half of last year.

“The progress we continue to make on protecting margin and delivering our strategic initiatives
around; enhancing our customers’ shopping experience, improvements within our supply chain and
sourcing new revenue streams is significant and I am very confident that the Group is on track to
produce a half-year result significantly ahead of the $28.0 million reported for the first half of last
year.”

Friday 7 May 2021

Contact for enquiries:

Rod Duke
Group Managing Director
Tel: 815 3737