Partly Cloudy

Partly Cloudy

max temp: 11°C

min temp: 6°C

Search

Retail: Argos and Homebase owner Home Retail Group reports ‘good start to the year’

PUBLISHED: 09:38 12 June 2014

Argos has reported a 4.9% increase in like-for-like sales for the 13 weeks to May 31.

Argos has reported a 4.9% increase in like-for-like sales for the 13 weeks to May 31.

Warm weather and demand for TVs and “big ticket” items such as kitchens helped Argos owner Home Retail Group post strong sales figures today.

Argos, which has 734 stores, lifted like-for-like sales by 4.9% in the 13 weeks to May 31 after seasonal products such as barbecues sold well alongside games consoles and televisions ahead of the World Cup.

DIY chain Homebase, which is also part of Home Retail, saw sales of fitted kitchens and seasonal plants and power hoses push like-for-like sales up 7.9%.

Former Argos boss John Walden, who is now in charge of the whole group following the recent departure of long-time chief executive Terry Duddy, said: “We have had a good start to the year.”

During the period Argos sold more than 32,000 folding camping chairs and over 270,000 bags of children’s play sand. Homebase, which has 322 stores, sold more than 93,000 barbecues and enough turf to cover 36 football pitches.

Home Retail has invested heavily in its click and collect service, with the group reporting that Argos internet sales now represent 42% of all trade. Out of this, mobile commerce grew by 56%, accounting for 21% of total Argos sales.

City analysts had expected Argos to turn in like-for-like sales growth of 3.7%, and Homebase to post like-for-like sales of 7.5%.

The group said it expects full-year pre-tax profits to be in line with market forecasts of £129million, compared to the last financial year when it posted a full-year pre-tax profit of £115.1m.

Search hundreds of local jobs at Jobs24

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Jack Stein, Rick Stein’s middle son, and Paul Rankin, will put on three shows each day of the festival.

St Elizabeth Hospice’s new store in Gloster Road, Martlesham, opened its doors to the public on Friday with the help of one of its patients.

Mike Spenser-Morris, of NHP Holdings, would pump millions of pounds into the proposed Travelodge and Starbucks development in Bury St Edmunds.

Over a £1,000 was raised for national gardening charity Greenfingers after Perrywood Garden Centre and Nurseries in Tiptree, Essex held a quiz night earlier this month.

The UK is almost bottom of a European league table for maternity leave, according to a new study.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24