Briscoe Group Limited (NZX: BGP) 4th Quarter Sales to 31 January 2021

Tuesday 9th February 2021

The directors of Briscoe Group announce unaudited sales for the 14-week quarter ended 31 January 2021 were $248.1 million, an increase of 18.29% on the 13-weeks ended 26 January 2020. The 14-week quarter is necessary because the Group operates on a weekly trading and reporting cycle of 52 weeks for most years with a 53-week year required once every five to six years to realign the financial and calendar year-ends.

Homeware sales increased by 18.77% to $156.2 million, while sporting goods sales were $91.9 million, an increase of 17.47% on the fourth quarter last year. On a same-store same-day basis, the Group’s sales for the fourth quarter ended 31 January 2021 were 11.89% above the fourth quarter for last year. On the same-store same-day basis, homeware sales increased by 12.62% and sporting goods sales increased by 10.68% for the same quarter.

Full year: 27 January 2020 - 31 January 2021 (53 weeks):

Total sales for the Group for the 53 weeks ended 31 January 2021 of $701.8 million, being 7.47% above the $653.0 million achieved for the 52 weeks ended 26 January 2020.

For the 53-week period from 27 January 2020 to 31 January 2021, homeware sales increased by 6.89% to $439.2 million while sporting goods sales increased sales by 8.45% to $262.6 million.

Commentary

Managing Director Rod Duke said: “The Group has continued to perform significantly ahead of last year through the final quarter of the year, which has resulted in Group sales surpassing $700 million for the first time. That’s a fantastic milestone for the Group to achieve, particularly in a year with so much upheaval and uncertainty.

“Both the Homewares and Sporting goods segments performed impressively throughout the final quarter posting increases over the same quarter last year of 18.77% and 17.47% respectively and closing the full year with growth of 6.89% and 8.45%, respectively.”

Board Chair, Dame Rosanne Meo said, “We’re very proud of how the Group has performed during this extraordinary year - certainly from a financial results perspective but also as a supportive employer and a responsible business.

“Throughout the disruption of Covid-19 we supported our team in full, financially as well as emotionally. There were no redundancies or permanent store closures. We were one of the first major retailers to repay the government wage subsidy and have also, just last month, paid a special dividend to our shareholders whose previous year’s final dividend was cancelled with the onset of Covid-19 in March 2020. A final dividend is expected to be announced with the release of the Group’s full-year results on 16 March 2021.”

Please see the link below for details:

BGP - 4th Quarter Sales to 31 January 2021

Source: Briscoe Group Limited

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