Strong Briscoe Group result means profits can be shared

Media release: FIRST Union
Thursday February 2, 2012

Strong Briscoe Group result means profits can be shared

Briscoe store workers who helped their company achieve good profits are looking for more of that wealth to be shared in current wage talks, their union said today.

Following strong sales growth in the last year, including over Christmas, Briscoe Group CEO Rod Duke today advised that the company expected a net profit after tax in the financial year of at least $27 million, up 25% on last year.

FIRST Union (formerly NDU) represents workers at Briscoes and Rebel Sports and is currently bargaining for a new employment agreement.

“We are expecting a significant change of heart from Briscoe Group in wage negotiations on the back of this morning’s market announcement,” FIRST Union Retail Secretary Maxine Gay said.

“There has been very little offered in bargaining so far. The efforts of Briscoe’s shop workers are an essential part of the company’s strong result, but like others in retail many of them are on very low wages, often little more than the minimum wage.”

“Although some retail outlets have been hit hard by the economic downturn Briscoes has continued to perform very well, as consumers hunted out lower cost goods in the non food retail sector.”

“Today’s profit signal from Briscoe Group shows that there is plenty of room to move for the company, and shop workers are looking for an improved wage offer.”

FIRST Union represents 28,000 workers including 11,000 in retail.

Ends.

The National Distribution Union and Finsec joined forces in October 2011 to form New Zealand’s newest union – FIRST. The union represents 28,000 people working in Finance, Industrial (Textile and Wood) Retail, Stores & Transport. http://firstunion.org.nz

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