Briscoe Group, the parent company to New Zealands largest sporting goods and outdoor equipment retailer, Rebel Sport, reported un-audited sales for the three months ended October 31, 2004 were $71.6 million, a 5.0% increase over the $68.2 million reported for the third quarter of last year. Comparable store sales for the quarter were down 2.7% compared to third quarter of last year.
Rebel Sport store numbers increased to 19 with the opening of a new Whangarei store in August. Total store area is now at 39,054 sq.m. Rebel Sport third quarter sales increased by 0.2% to $22.4 million, while comp store sales were 14.5% lower than last year.
The groups overall gross margin as a percentage of sales for the third quarter was “slightly below” the margin for the same quarter last year, however the year-to-date gross margin remains “significantly above” last year.
Rod Duke, Group Managing Director, said that he is “a little disappointed with the softening of Rebel Sport’s sales, especially after such a strong second quarter.”
“For this quarter, we had forecast to make up some of the $3 million bottom line shortfall experienced for the first half-year, however profitability has been pretty much static for the current quarter, year on year,” Duke said. “The extent of any recovery of the profit shortfall from the first half is now dependent on satisfactory trading during and in the lead up to Christmas.”
