3rd Quarter Sales to 31 October 2005

3rd Quarter Sales to 31 October 2005

The directors of Briscoe Group Limited announce that unaudited sales for the three months ended 31 October 2005 were $73.2 million, being 2.11% higher than the $71.6 million reported for the third quarter of last year.

On a same store basis, the Group’s sales for the quarter were 1.93% behind those for the third quarter of last year.

However, the gross margin percentage generated for the third quarter was significantly above the margin for the same quarter last year, continuing the trend established in the previous two quarters.

Briscoes Homeware sales increased 0.32% to $49.4 million while Rebel Sport sales increased by 6.06% to $23.7 million. On a same store basis, Briscoes Homeware sales decreased by 4.82% for the quarter, while Rebel Sport sales increased by 3.80%.

The opening of two new Briscoes Homeware stores at Te Rapa, Hamilton and Lyall Bay, Wellington increased total store area to 75,258 sq.m and brought the number of Briscoes Homeware stores to 36. Rebel Sport store numbers remain unchanged at 20, however total store area is now at 40,516 sq.m, with the relocation of the Hamilton Rebel Sport to its new premises at Te Rapa.

The Group is on schedule to add a further two stores before the end of the year with the opening of a Briscoes Homeware at Wairau Park on Auckland’s North Shore and also a Rebel Sport store in Gisborne.

The October quarter sales figure takes unaudited group sales for the nine months ended 31 October 2005 to $227.5 million, an increase of 8.19% over the $210.3 million reported for the first nine months of last year. Briscoes Homeware sales increased 7.09% during this period, while Rebel Sport sales increased 10.47%.

Rod Duke, Group Managing Director, said, “The sales performance for the quarter was satisfactory having regard to the generally depressed retail market as a whole over the period, particularly in August and September. During this period there was the general election and a sharp rise in petrol prices. Sales revenue has strengthened during October and gross margin continues to be significantly ahead of last year. With inventory levels well controlled and our new store programme on schedule, we are looking forward to the peak trading period leading up to Christmas”.

ENDS

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