Briscoe Group Closes Out Fiscal 2018 With a Strong 4Q
We reiterate our NZD 3.50 fair value estimate for no-moat-rated Briscoe Group Holdings following fourth-quarter sales to Jan. 28. The New Zealand retailer finished fiscal 2018 3.5% higher than 2017, with full-year revenue of NZD 603 million slightly trailing our forecast of NZD 610 million. The company increased sales across both its homewares and sporting goods segments, buoyed by online growth of more than 30%. Closing at NZD 3.50, shares in Briscoe are trading at a level we consider fairly va...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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