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Tuesday 3rd February 2009 |
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Sales for the three months ended Jan. 25 fell to $228.7 million from $129.9 million, the company said in a statement. Same-store sales dropped 4.7%. Homeware sales fell 1.8% to $88 million in the fourth quarter, while sporting goods sales rose 1.1% to $40.6 million.
The company is "reasonably satisfied" with the performance "given the challenging trading conditions that have prevailed for retailers," managing director Rod Duke said. Revenue picked up from the third-quarter result, he said.
Full-year sales fell 4.7% to $388.5 million, or down 6.7% on a same-store basis. The pick-up in sales in the fourth quarter from the third means that while second-half profit will be below same year-earlier period, it won't be of the same magnitude as the first half's 71% slump, Duke said.
Shares of Briscoe were unchanged at 71 cents and have fallen 22% in the past six months.
The company is scheduled to post its full-year earnings on March 16.
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