Briscoe Group has reported a 2.58% decrease in unaudited sales for the first trading quarter ended on April 27, 2025.
Sales for the quarter amounted to $178.3 million, down from $183m in the same period last year.
The decline in sales was attributed to the challenging retail environment and the impact of the timing of Easter and ANZAC Day.
The homeware segment experienced a 4.66% decrease in sales, reaching $103.6m, while the sporting goods segment saw a 0.47% increase, with sales of $74.7m.
Despite the slower start to the winter season, Briscoe Group said inventory remained well controlled and finished the quarter lower compared to the previous year.
The company anticipates the New Zealand retail sector to remain highly challenging throughout 2025.
It is currently targeting a first-half net profit after tax of around $30m.
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