Briscoe Group is maintaining an "optimistic" outlook heading into its fourth-quarter trading, with gross margins undermined by intense promotional activity and the high New Zealand dollar. Despite the competitive retail environment, Mr Duke said Briscoe’s gross profit margin percentage had finished in line with the rate achieved during the third quarter of last year. "As we begin the crucial final quarter, we remain optimistic in our outlook. Briscoe’s unaudited sales for the third quarter; the 13 weeks ended October 30, 2016, of $125.6 million, were up 8.38% on the $115.9 million booked for the same quarter last year. For the quarter, homeware sales increased 7.24% to $79.1 million, while sporting goods increased 10.37% to $46.5 million.

Source: Otago Daily Times November 03, 2016 17:09 UTC