Briscoe Group (ASX:BGP, NZE:BGP) said unaudited sales for the fiscal first quarter ended April 27 fell 3% to NZ$178.3 million, from NZ$183 million last year, according to a Wednesday Australian bourse filing.
Fiscal Q1 sales for the Group's homeware segment decreased 5% to NZ$103.6 million, while sporting goods sales increased 1% to NZ$74.7 million.
The company expects New Zealand retail to remain "highly challenging" throughout the remainder of the fiscal year and is trying to sustain the level of profitability achieved last year.
"We are currently targeting first half net profit after tax of around NZ$30 million and expect the group to return to a more normalised profit shape for the full year with second half profit exceeding that achieved for the first half." Group Managing Director Rod Duke said.
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