Briscoe Group Limited Analysis

Overview

The company's beginnings date from 1862 when the first Briscoes warehouse and store was opened in Dunedin, by William Briscoe & Son. Australian and NZ operations were purchased by Merbank Corporation of Australia in 1973, and following extensive rationalisation, by Hagemeyer in 1977. Following several years of losses, the business was acquired by CEO Rod Duke, in 1990. Stock exchange listing followed a public issue of 40m shares at $1 each in November 2001.

By 2008, Briscoe Group Limited's retailing interests totaled 57 Homeware Stores and 32 Sporting Goods Stores.

Performance

The following information was extracted from Briscoe Group Limited's market update, released on 1 May 2026:

The Directors of Briscoe Group Limited (NZX/ASX code: BGP) announce that unaudited sales for the first trading quarter ended 26 April 2026 (91 days) were $180.8 million, an increase

of 1.37%. First quarter sales for the Group’s homeware segment increased by 1.98% to $105.7 million, while sporting goods sales increased by 0.53% to $75.1 million.

Group Managing Director Rod Duke said, “The first quarter represented a satisfactory start to the new financial year, particularly through February, with trading outcomes in line with our expectations. Importantly, the Group delivered positive sales growth across both segments for the quarter, with homewares and sporting goods each achieving growth. As the quarter progressed, escalating conflict in the Middle East placed renewed pressure on fuel prices, contributing to heightened inflationary concern, increased economic uncertainty and a further dampening of discretionary consumer spending. This sudden shift in sentiment had a noticeable impact across the broader retail sector during the latter part of the quarter.

“In addition, during April, significant weather events - including Cyclone Vaianu and severe rainfall affecting the lower North Island, particularly the Wellington region - disrupted customer activity, significantly reduced store traffic, and in some cases resulted in temporary store closures.

“As expected, gross profit rate continued to stabilise during the quarter. Following the reduction in the rate of gross profit margin decline recorded through last year, this improvement has carried into the current financial year, representing a pleasing continuation in that trend.

“Inventory discipline remains a key focus for the Group, with inventory closing the quarter in line with the prior year. These outcomes reduce clearance risk and provide a solid platform as we progress through the remainder of the year.