1st Quarter Sales to 30 April 2023

Record 1
st
Quarter Sales to 30 April 2023


The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce that unaudited sales for
the first trading quarter ended 30 April 2023 (91 days) were $181.2 million, being 2.82% higher than
the $176.2 million achieved for the same quarter of last year.

First quarter sales for the Group’s homeware segment increased by 2.85% to $109.9 million, while
sporting goods sales increased by 2.78% to $71.3 million.

Group Managing Director Rod Duke said, “We’re pleased with the sales we’ve produced for this
first quarter. To achieve positive sales growth given the continued negative economic factors
impacting consumer confidence and retail spending is a solid start to the year for the Group.

“Gross margin remains a major focus for the Group and we continue to see pressure as the
impacts of the economic downturn are felt. However, we currently expect this year to show that the
Group can protect around half of the 633 basis points gained during the 2 years ended January
2021 and January 2022.

We expect New Zealand retail to remain highly sensitive to ongoing uncertainty in relation to
deteriorating economic conditions, customer sentiment, cost pressures, higher interest rates and
political uncertainty given the upcoming election. We do not underestimate how challenging trading
could be as highlighted by recent results posted by other companies. As previously reported, we
expect it to be difficult for the Group to replicate last year’s record profit result but are confident that
we are well placed to outperform our retail peers.”



Thursday 4 May 2023

Contact for enquiries:

Rod Duke
Group Managing Director
Tel: 815 3737