6 Aug 2010

Sales at Briscoes edge up

12:08 pm on 6 August 2010

Sales at Briscoe Group are continuing to push ahead, despite the tough retail conditions.

The listed homeware and sporting goods retailer posted sales growth from stores open for at least a year, of 2.49% for the six months to August.

The company, which owns the Briscoes Homeware, Rebel Sports and Living & Giving chains, saw homeware sales increase 1.56%. Sporting goods sales were up 4.47% for these same stores.

However, sales for all stores increased 2.6% to $190.1 million.

While earnings before tax are expected to be about 30% ahead, tax changes mean profits are likely to stay in line with last year's half year result of $6.5 million.

Managing director Rod Duke says the slow start to winter affected sales of heaters, electric blankets and winter bedding.

He says there is also apprehension amongst consumers about spending.

Shares in Briscoe Group were unchanged at $1.20 on Friday morning.