BGR - Briscoes Valuation

[Sideshow Bob]

Holding their own.....

https://www.nzx.com/announcements/441537

Highlights year-to-date to 27 October 2024 (39 weeks):

• Positive sales growth when adjusted for Labour Day promotion
o Total Group +0.53%
o Homeware +0.36%
o Sporting goods +0.80%
• Online sales as mix of total Group sales, 18.91%, (LY 18.57%)
• Reported Group sales $546.1 million, -0.51%

Year-to-date: 29 January 2024 – 27 October 2024:

Unaudited sales for the thirty-nine-week period from 29 January 2024 to 27 October 2024 were $546.1 million, only -0.51% less than the 548.9 million recorded for the same 39- week period last year.

It is important to note that due to the timing of the October accounting period-end cut-off, the Labour Day (Monday 28 October 2024) sales will be recorded in the Group’s November accounting period (4th quarter). Last year, this significant promotional day was part of the October accounting period and therefore was included in the 3rd quarter reported sales.

Adjusting to include the impact of this day, year-to-date sales for the nine months to 27 October 2024 produced positive growth for the Group of +0.53% and indeed across both the homeware and sporting goods segments; +0.36% and +0.80%, respectively.

Group Managing Director, Rod Duke said, “To post positive year-to-date (adjusted) sales growth across both the homewares and sporting goods segments, in this retail market, is an outstanding achievement. Once again, the team has demonstrated just how proactive and resilient they are in this incredibly demanding trading environment – a massive thank-you to the entire team.

“As with all retailers, pressure on margins and costs continue to impact our bottom line. We remain hopeful that the recent decreases in the OCR will improve consumer confidence and increase retail spend for the final crucial quarter of our financial year.

“Currently we believe the Group’s full year net profit after tax (NPAT) will fall in the range of $70 - $77 million reflecting the high level of trading uncertainty anticipated across the 4th quarter which traditionally produces more than 30% of the Group’s sales revenue. This NPAT range excludes the previously announced one-off, non-cash tax adjustment of $7.4 million booked as a result of changes to tax depreciation on commercial buildings enacted by the Government earlier this year."

[winner69]

Holding there own maybe

Could be seen as profit downgrade …last year $84m and this year could be as low as $70m

Not quite the expected ‘strong result’ he said not that long ago

[Jenny Ruth]

Hi all. In this column, I take a look at retailing and a shake up in Australian retailing that has ramifications here.
https://justthebusinessjennyruth.substack.com/

[winner69]

Like the bit in Jenny's article -

Jarden analyst Guy Hooper noted that Briscoe has reported just four declines in annual net profit in the last 19 years.

Two of those years were during the GFC and some economists say the current recession is even worse than the GFC.

[nztx]

BGR still stubbornly grasping onto the KMD bundle they got pre the KMD Re-Cap-raise or has it been cut free
and sent on it's way at anything going jettison rates ?

[stoploss]

BGR still stubbornly grasping onto the KMD bundle they got pre the KMD Re-Cap-raise or has it been cut free
and sent on it's way at anything going jettison rates ?

I think this answers your question
https://www.nzx.com/announcements/439953

[kiora]

I think this answers your question
https://www.nzx.com/announcements/439953

But thats Yarra Fund selling not Briscoes ?

[stoploss]

But thats Yarra Fund selling not Briscoes ?

OK ,I stand corrected.