Briscoe Group (BGP) Q3 2024 TU earnings summary

Executive summary

• Year-to-date sales for the 39 weeks to 27 October 2024 reached $546.1 million, down 0.51% compared to the same period last year, but adjusted for Labour Day promotion, sales grew 0.53%.

• Homeware segment sales grew 0.36% and sporting goods increased 0.80% year-to-date, when adjusted for Labour Day timing.

• Online sales accounted for 18.91% of total group sales, up from 18.57% last year.

Financial highlights

• Reported group sales for the 39-week period were $546.1 million, a decrease of 0.51% year-over-year.

• Adjusted sales growth for the group was 0.53% year-to-date, reflecting the impact of Labour Day promotion timing.

Outlook and guidance

• Full year net profit after tax (NPAT) is expected to be in the range of $70–$77 million, excluding a one-off, non-cash tax adjustment of $7.4 million.

• Trading uncertainty remains high for the fourth quarter, which typically generates over 30% of annual sales.

• Recent decreases in the OCR may improve consumer confidence and boost retail spending in the final quarter.