4th Quarter Sales to 30 January 2022

Sales to 30 January 2022
Record Full-Year Sales and Profit


Briscoe Group Limited (NZX/ASX code: BGP)

Highlights:
• Full year (52 weeks) Group sales $744.4 million, +6.08% (vs 53 weeks last year)
• Full year (52 weeks) Group sales vs 52 weeks last year +7.97%
• Full year Homeware sales growth, +4.93% (vs 52 weeks last year, +6.72)
• Full year Sporting goods sales growth, +8.00% (vs 52 weeks last year, +10.06%)
• Full year Online sales as mix of total Group sales, 21.47%
• Full year Online sales growth, +21.01%
• Expected full year net profit after tax (NPAT) approximately $87 million
• Announcement of full year results including final dividend - 16 March 2022

Full year: 1 February 2021 – 30 January 2022 (52 weeks):
The directors of Briscoe Group Limited announce unaudited sales for the full-year, 52-week
period to 30 January 2022 of $744.4 million, an increase of 6.08% on the $701.8 million
reported for the 53-week period of last year. Comparing this year sales to the similar 52-week
period last year, Group sales grew by 7.97%.

The homeware segment increased sales by 4.93% during the full year and the sporting goods
segment by 8.00%. Comparing to the similar 52-week period homewares increased by 6.72%
and sporting goods by 10.06%.

Fourth quarter: 1 November 2021 – 30 January 2022 (13 weeks):
Unaudited sales for the 4
th
quarter, 13-week period ended 30 January 2022 were $247.6
million, 0.22% under the $248.1 million for the 14-week final quarter of last year. Comparing
this year sales to the similar 13-week period last year, Group sales grew by 4.97%.

For the quarter, the homeware segment decreased sales by 3.42% during the 4
th
quarter with
the sporting goods segment increasing by 5.21%. Comparing to the similar 13-week period
homewares increased by 1.36% and sporting goods by 11.15%.

Commentary
Group Managing Director, Rod Duke said: “Amidst the turmoil, uncertainty and continuing
disruption of the pandemic, Briscoe Group has had an outstanding final quarter which will,
once again, result in record full year sales and profit

“I’m thrilled that the Group has returned a sales lift of nearly 5% for this quarter when adjusted
for last year’s additional week of trading. This is a great achievement given retail sales last
year were still flying high from the retail recovery post the first national lockdown and also that
our Auckland stores were shut for the first 9 days of this quarter.
.

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 and also the Australian Securities Exchange as a foreign exempt
entity. (NZX/ASX code: BGP).


“Part of this year’s success has been our focus on ensuring the business has had sufficient
inventory to satisfy demand. With the uncertainty around national and international supply
chains we committed to a strategy of securing product often months in advance of traditional
timings, to minimise the wide-spread and widely reported, supply chain disruptions. This
deliberate approach has resulted in a high level of inventory being carried during the year and
we expect this to continue throughout 2022, but it has unquestionably delivered in terms of
sales and profit. This was particularly true during this fourth quarter which contained the
significant Black Friday and Christmas promotional events which produced very pleasing
results.

“Our online business continues to produce remarkable results with growth of 21% this year,
albeit on the back of further lockdowns but also too as a result of continuing developments
and improvements implemented by both the E-commerce and store-fulfilment teams.

“Gross margin remains a focus for the Group. We continue to see benefits and opportunities
in relation to margin performance from the initiatives the team, in conjunction with KPMG, are
continuing to drive especially in relation to optimising ordering, allocation and flow into and
through our stores. We expect Group gross margin percentage for the full year to close
significantly above last year’s margin percentage.”

This year’s result also includes $1.7 million (after tax) of dividends received from the Group’s
investment in Kathmandu Holdings Limited. No dividend was received last year as a result of
Kathmandu’s response to the COVID-19 situation.

Rod Duke said, “Having reached the end of the Group’s financial year last week and now
having the benefit of certainty in relation to sales quantum, we anticipate that the Group will
exceed the $85 million upper range limit of the NPAT guidance previously given in November.
We now expect a full year NPAT of approximately $87 million, around 20% above last year’s
reported NPAT.

“We have a very strong core business and our strategic plan is delivering ahead of
expectations. This performance reflects the incredibly talented team we have in place across
the whole company and I’m extremely proud of them to have yet again produced such
incredible results.”

The Group is due to report its full year result, including announcement of final dividend, on
Wednesday 16 March 2022.


Friday 4 February 2022

Contact for enquiries:
Rod Duke
Group Managing Director
Tel: +64 9 815 3737