Partly Cloudy

Partly Cloudy

max temp: 18°C

min temp: 11°C

ESTD 1874 Search

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

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.

shares

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.

shares

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

A computer-generated image of how the Sizewell complex will look after construction of Sizewell C.

Development of Sizewell C took a huge step forward today as the companies were announced that will build its sister nuclear power station in Somerset.

Gary Allen, operations manager,  with Diane Allen and Graham Allen at Ipswich-based Ajax Domestic Spares which is celebratiing 40 years in business.

Ajax Domestic Spares has marked 40 years in business in style by launching a new showroom in Foxhall Road, Ipswich.

The Willis building in Ipswich.

Around 200 people are to lose their jobs at the Ipswich office of global insurance broker and risk management group Willis.

The Great House restaurant with rooms in Lavenham.

An award-winning Suffolk restaurant has gained another accolade after being ranked the 26th best in the country.

Gavin Patterson, chief executive of BT.

Photo: BT

BT is to pay out up to £129million to extend the Government-led roll-out of superfast broadband, after a bigger-than-expected take-up of the service.

Centrica has reignited controversy over high energy bills by announcing a 44% increase in first half profits at its British Gas retail division.

Energy giants Royal Dutch Shell and Centrica today revealed plans to axe a total of more than 12,000 jobs.

Christopher Hayman of Hayman Distillers with his children Miranda and James.

Essex gin maker Hayman Distillers is celebrating after winning a Gold award at this year’s International Wine and Spirits Competition (IWSC).

Bakery chain Greggs saw like-for-like sales rise 5.9% in the six months to July 4.

Higher breakfast sales and a bigger range of healthier products helped Greggs grow underlying profits by 51% in the first half of the year.

Barclays chairman 

John McFarlane.
Photo: VisMedia

Barclays boss John McFarlane today signalled plans to ramp up growth, squeeze costs and streamline the business after announcing a 25% rise in first half profits.

Uncertainty over Government policy is holding back potential investment in the offshore wind sector, according to East of England Energy Zone director James Gray.

The absence of a clear Government stategy is leaving the offshore wind industry “in limbo”, according to a leading figure within the sector in East Anglia.

Most read

Most commented

Topic pages