Briscoe Group’s Homeware Headaches Dampen Sporting Success
We maintain our NZD 3.65 fair value estimate following no-moat-rated Briscoe Group’s sales results for the quarter ended April 29, 2018. While first-quarter sales in sporting goods continue to impress and track our full-year estimate, we have lowered our full-year expectation for the Homeware segment following disappointing revenue growth to date. We now forecast fiscal 2019 sales of NZD 633 million, down from our previous estimate of NZD 644 million. First-quarter sales growth of 3.6% on the pr...Briscoe Group is a non-trading holding company. Co. is engaged in the provision of management services to its subsidiaries. Through its principal trading subsidiaries, Co. is engaged in selling homeware products and retailing sporting goods. Co. operates two operating segments: Homeware and Sporting Goods. As of Jan 31 2010, Co. had 58 Homeware stores and 32 Sporting Goods stores located throughout New Zealand.
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