Briscoes’ Q3 bodes well for Xmas
Briscoes’ Q3 homeware sales to the end of October were +7.2% to $79.1 million, but sporting goods did better with $46.5 million or +10.4%. Overall Briscoe Group sales were $125.6 million (+8.4%). On a same store basis Group sales for the third quarter were +5.4%, while same store sales for homeware were +4.6% and +6.87% for sporting goods.
For the year to date, Group sales were $393.9 million (+9.5%), within which homeware sales were +7.5% and sporting goods +13.1%. Group same store sales were +6.6%, homeware + 4.9%, and sporting goods +9.39% compared to the first three quarters of last year.
Harvey Norman Q1 shows slowing Aussie market?
Harvey Norman’s figures for the first quarter of FY2017 (July-September 2016) showed overall sales of AU$1.69 billion or +6.6%, with the added bonus of impressive bottom line growth as overall unaudited profit before tax was +25.9% (AU$115.6 million) on the previous year.
In the Australian market, Q1 sales and comparables were both +5.4%, the home territory proving the least performing of Harvey Norman’s seven regions in local currencies. In the New Zealand market, for example, in local currency, sales were +11.6% and comparables +8.2%.
JB Hi-Fi has a good Q1
Now the owner of The Good Guys (the fruits of which will become visible next year), JB Hi-Fi’s FY2016 year-end announcement showed overall sales of AU$3.95 billion (+8.3%) with comps +5.4%. Its NPAT was AU$152.2 million (+11.5%). Online sales were still lowish at around 3% of total sales.
In the new year, its Q1 FY2017 sales were +12.4% and comps +8.3% and the forecast was for FY2017 sales of AU$4.25 billion.
Kogan’s first public result pretty positive
Kogan.com’s FY2016 result, the first since going public, showed the pureplayer had done better than promised in its IPO prospectus 6 months ago. Sales were AU$211.2 million (+5.4%), to which Dick Smith brought AU$6.5 million, its EBITDA AU$4 million (+150%) and the NPAT AU$0.8m. The Gross Margin was a healthy 15.5%. Online subscriber numbers were +26% during this period.
Noel Leeming outshines stablemates
Noel Leeming’s same store sales performance for the quarter to the end of October at +10.5% easily outshone its stablemates’. Its Q1 sales of $183.6 million were +12%. During the quarter, two new stores were opened in Takapuna and Tauranga Crossing, while the Gisborne store was relocated.
The retailer also won the Most Improved Award in the IBM Kenexa Best Workplaces Survey Enterprise category for its increasing team engagement.
Smiths City reports strong H1
In mid-November, Smiths City Group updated the market on the first 6 months of its financial year to October 2016. Its top line was +17.6%, due in part to the purchase of Furniture City in April 2016. On a same store basis, sales revenues were +7.7% while Gross Margin was +1% over the same period last year.
The update also noted that the 30th Smiths City store would open in Hastings in February and would be the first to sport a new retail layout based on the market research conducted in 2016. The retail layout will be then rolled out throughout the retail network.