Highlights

  • Briscoe Group posts Q3 sales decrease as discretionary demand remains pressured.
  • Homeware records quarterly growth while sporting goods is impacted by store transition.
  • Inventory position remains favourable ahead of the crucial fourth quarter period.

Briscoe Group Limited (NZX:BGP) released its trading update for the 13-week period ending 26 October 2025, reporting total Group sales of USD 171.0 million, reflecting a 1.76% decline from the prior corresponding period. Segment performance was uneven, with the homeware division increasing by 1.80%, while sporting goods sales fell 7.33%.
Online channels comprised 18.48% of total Q3 sales, underscoring the Group’s ongoing digital contribution.

For the year-to-date 39-week period, sales reached USD 542.3 million, which was 0.71% lower than the same period last year. Homeware rose 0.49% across the nine months, whereas sporting goods decreased 2.64%. Online sales made up 19.08% of the total YTD mix, and the Group stated that its strategic investment programme continued to progress.

Sales Trends and Operating Conditions

The company reported uneven trading conditions during the quarter, with ongoing softness in consumer sentiment and discretionary expenditure. The update noted an emphasis on managing inventory levels, promotional settings, and the balance between sales outcomes and margin performance.

The Group said inventory was positioned well heading into the fourth quarter, closing the October period more than USD 3 million lower than last year. Homeware reduced its margin decline compared with the first half, while the sporting goods segment recorded margin improvement over the prior comparable period.

Sporting goods sales were affected by the transformation of the Panmure Rebel Sport store into the new Rebel X concept. The project involves a revised product layout and new customer-facing features, with the store expected to open in late November.

Operational Initiatives and Project Pipeline

Briscoe Group also highlighted operational progress during the quarter, including the migration of online stores to the Adobe platform and the rollout of its Direct-to-Customer Marketplacer system. Construction at the Drury distribution centre advanced, with the build phase scheduled for completion in early 2026.

The update stated that sales were tracking slightly below last year, margin performance had stabilised, and major projects continued moving forward. The Group maintained its view that macroeconomic settings remained challenging and reiterated its full-year NPAT guidance of around USD 60 million for the period ending 25 January 2026.

Share Performance of BGP

BGP shares were trading NZD 5.40 per share at the time of writing on 7 November 2025.