Briscoe Group says first-half margins squeezed

Staff reporters
Thu, 04 Aug 2022

Briscoe Group's first-half margins suffered as the homeware and sporting goods retailer dealt with disruptions to its supply chain, a weaker kiwi dollar pushing up the cost of imports, and a general decline in consumers' appetite to spend. The retailer said it would report a 4% decline in first-half profit from the prior period's $47.5 million, despite a 2.7% increase in sales to $367.9m in the 26 weeks ended July 31. Second quarter sales were up 3.5% at $191.7m.Group managing director Rod Duke, who owns about three-quarters of...

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