September 11, 2024 • 4 mins
Briscoes' endless sales are continuing to pay off.
The group, which also includes Rebel Sport, made a net profit of $33 million in the half year to July.
Their success stems from their long-time merchandise proposition of getting famous brand names and putting them out at the right price, the group’s Managing Director says.
Rod Duke told Mike Hosking that the proposition just seems to resonate with customers.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Another good period for Brisco is the company that seemingly
(00:02):
keeps on selling no matter the economic climate. So the group,
which also includes of course Rebel Sport, made a net
profit of thirty three million dollars and a half year
two July. So what are they doing when so much
of retail can't seem to do well? At the moment,
Brisco's group managing directors, of course, Rod Duke was with us, Rod,
very good morning to you and without well, thank you,
and without getting into the weeds here the depreciation and
(00:23):
the tax treatment on commercial buildings, if that hadn't changed,
you would have in fact got an even better profit,
wouldn't you.
Speaker 2 (00:29):
Yeah, it's a one off cash.
Speaker 1 (00:30):
I don't know, okay, So what's going on in retail
that you do well and so many others can't.
Speaker 2 (00:38):
I think it's probably the merchandise proposition that we've got.
You know, we said about a long time ago to
get famous brig named and put them out there at
the right price. And it's just one of those propositions.
It seems to resonate with customers.
Speaker 1 (00:53):
None of that was complicated. How come if you can
do it, others can't or don't.
Speaker 2 (01:00):
Look, I guess they've found a market position that they
think is sustainable and defendable and they've just persisted at
that and sort of left us alone. Yeah, quite right.
Speaker 1 (01:11):
So is this the bottom economically speaking? Do you reckon
or not? Or we don't just don't know.
Speaker 2 (01:16):
Well, we're happening. So, you know, we saw some green
shoots I think not so long ago when interest RaSE
looks as though they're plat owed, and I guess that's
the first thing that has to happen. It has to
work its way through to the suburbs, and that might
take a little while, but at least we've got those
first signs and that's encouraging.
Speaker 1 (01:33):
And so as do you directly link your business and
the tools ringing to something like the ocr or not?
Speaker 2 (01:41):
Well, I think it's all about how much pain is
being experienced in the suburbs. And clearly, you know, with
everything coming on top of us of them all the
one time, with insurances and food, inflation, utilities, bank interest rates,
you know, at all happening at the one time makes
it really, really very difficult in the suburbs.
Speaker 1 (02:01):
So you've been around a while. Where is this period
sitting or has sat in terms of things like the
GFC and all of the other things we've experienced. Is
this as bad as it's ever been or different?
Speaker 2 (02:12):
I think it's I think personally, I think it's a
little worse. The GFC was, you know, was something that
was was sort of started elsewhere. We were still in
pretty good shape. We didn't have the sort of infatiary
effect in all those items that I've just mentioned all
of the one time. We do have it this time,
and you know, it's I think it's kind of last,
(02:35):
perhaps just a little bit longer. But look, we're sitting
on the optimistic side of things and perhaps in the
run up to Christmas we'll get a little better.
Speaker 1 (02:45):
Is there a variation within your group as to how
people spend and what they spend or not.
Speaker 2 (02:52):
We have two businesses, one which is described as discretionary,
which is the sporting because business and the house where business.
The house with businesses basically a house of staples. You know, irons,
toasted color cases and the like. You know, when they
wear out or break down, you've sort of got it.
You sort of go and get it. With sporting goods,
(03:13):
it's one of those discretionary items that you can neither
stare or just make do with what you've got for
a little bit longer.
Speaker 1 (03:19):
And so is Rebel hurting a bit more in that sense?
Speaker 2 (03:23):
Well, oddly enough the rangers within Rebel, that is a
lot of the premium product is now available a Rebel,
but up until now it has not been. So Rebel's
actually performing very very very well.
Speaker 1 (03:38):
Whoosh, So that's a supply thing, yes it is. Okay,
what about labor? What's your observation of labor, getting labor,
holding labor, the churn of staff, all of those sort
of things. Does that affect you and does it affect
you badly?
Speaker 2 (03:51):
Yeah? It does. We have found for a considerable amount
of time it's been particularly difficult, you know, getting hold
of new staff. We managed to hold out stuff because
I think we generally pay them pretty well and it's
a fun place to work, but getting new staff is
(04:12):
difficult and has been for a good while now.
Speaker 1 (04:14):
Right, tell me, hand on heart, honestly, because I read
the reports each time they come out with Brisco's and
you say the same thing every time, after record after
record after record, you then go, a's very difficult time.
So I don't know if we will or repeat this
and then you go and do it. Are you talking
with us, Rod?
Speaker 2 (04:30):
I don't want to hide an expectation.
Speaker 1 (04:32):
Like fair enough to so you underpromise over deliver as
the name of the game.
Speaker 2 (04:37):
It's not a bad policy.
Speaker 1 (04:41):
Very good. Nice to see Rod Duke, who is the
Briscos Group managing director.
Speaker 2 (04:45):
For more from the Mic Asking Breakfast, listen live to
news talks. It'd be from six am weekdays, or follow
the podcast on iHeartRadio.
Another good period for Brisco is the company that seemingly
(00:02):
keeps on selling no matter the economic climate. So the group,
which also includes of course Rebel Sport, made a net
profit of thirty three million dollars and a half year
two July. So what are they doing when so much
of retail can't seem to do well? At the moment,
Brisco's group managing directors, of course, Rod Duke was with us, Rod,
very good morning to you and without well, thank you,
and without getting into the weeds here the depreciation and
(00:23):
the tax treatment on commercial buildings, if that hadn't changed,
you would have in fact got an even better profit,
wouldn't you.
Speaker 2 (00:29):
Yeah, it's a one off cash.
Speaker 1 (00:30):
I don't know, okay, So what's going on in retail
that you do well and so many others can't.
Speaker 2 (00:38):
I think it's probably the merchandise proposition that we've got.
You know, we said about a long time ago to
get famous brig named and put them out there at
the right price. And it's just one of those propositions.
It seems to resonate with customers.
Speaker 1 (00:53):
None of that was complicated. How come if you can
do it, others can't or don't.
Speaker 2 (01:00):
Look, I guess they've found a market position that they
think is sustainable and defendable and they've just persisted at
that and sort of left us alone. Yeah, quite right.
Speaker 1 (01:11):
So is this the bottom economically speaking? Do you reckon
or not? Or we don't just don't know.
Speaker 2 (01:16):
Well, we're happening. So, you know, we saw some green
shoots I think not so long ago when interest RaSE
looks as though they're plat owed, and I guess that's
the first thing that has to happen. It has to
work its way through to the suburbs, and that might
take a little while, but at least we've got those
first signs and that's encouraging.
Speaker 1 (01:33):
And so as do you directly link your business and
the tools ringing to something like the ocr or not?
Speaker 2 (01:41):
Well, I think it's all about how much pain is
being experienced in the suburbs. And clearly, you know, with
everything coming on top of us of them all the
one time, with insurances and food, inflation, utilities, bank interest rates,
you know, at all happening at the one time makes
it really, really very difficult in the suburbs.
Speaker 1 (02:01):
So you've been around a while. Where is this period
sitting or has sat in terms of things like the
GFC and all of the other things we've experienced. Is
this as bad as it's ever been or different?
Speaker 2 (02:12):
I think it's I think personally, I think it's a
little worse. The GFC was, you know, was something that
was was sort of started elsewhere. We were still in
pretty good shape. We didn't have the sort of infatiary
effect in all those items that I've just mentioned all
of the one time. We do have it this time,
and you know, it's I think it's kind of last,
(02:35):
perhaps just a little bit longer. But look, we're sitting
on the optimistic side of things and perhaps in the
run up to Christmas we'll get a little better.
Speaker 1 (02:45):
Is there a variation within your group as to how
people spend and what they spend or not.
Speaker 2 (02:52):
We have two businesses, one which is described as discretionary,
which is the sporting because business and the house where business.
The house with businesses basically a house of staples. You know, irons,
toasted color cases and the like. You know, when they
wear out or break down, you've sort of got it.
You sort of go and get it. With sporting goods,
(03:13):
it's one of those discretionary items that you can neither
stare or just make do with what you've got for
a little bit longer.
Speaker 1 (03:19):
And so is Rebel hurting a bit more in that sense?
Speaker 2 (03:23):
Well, oddly enough the rangers within Rebel, that is a
lot of the premium product is now available a Rebel,
but up until now it has not been. So Rebel's
actually performing very very very well.
Speaker 1 (03:38):
Whoosh, So that's a supply thing, yes it is. Okay,
what about labor? What's your observation of labor, getting labor,
holding labor, the churn of staff, all of those sort
of things. Does that affect you and does it affect
you badly?
Speaker 2 (03:51):
Yeah? It does. We have found for a considerable amount
of time it's been particularly difficult, you know, getting hold
of new staff. We managed to hold out stuff because
I think we generally pay them pretty well and it's
a fun place to work, but getting new staff is
(04:12):
difficult and has been for a good while now.
Speaker 1 (04:14):
Right, tell me, hand on heart, honestly, because I read
the reports each time they come out with Brisco's and
you say the same thing every time, after record after
record after record, you then go, a's very difficult time.
So I don't know if we will or repeat this
and then you go and do it. Are you talking
with us, Rod?
Speaker 2 (04:30):
I don't want to hide an expectation.
Speaker 1 (04:32):
Like fair enough to so you underpromise over deliver as
the name of the game.
Speaker 2 (04:37):
It's not a bad policy.
Speaker 1 (04:41):
Very good. Nice to see Rod Duke, who is the
Briscos Group managing director.
Speaker 2 (04:45):
For more from the Mic Asking Breakfast, listen live to
news talks. It'd be from six am weekdays, or follow
the podcast on iHeartRadio.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!