Briscoe first-half profit rises at least 32% on fatter margins, rising sales

Wed, 03 Aug 2016

By Paul McBeth Aug. 3 (BusinessDesk) - Briscoe Group, which operates stores selling household items and sports goods, says first-half profit rose at least 32 percent as the retailer widened gross margins on more rigorous promotions and inventory management at the same time as lifting sales. Net profit was at least $27 million in the six months ended July 31, up from $20.5 million a year earlier, the Auckland-based company said in a statement. Second-quarter sales rose 9 percent to $135.4 million, led by a 14 percent gain in sporting good...

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