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Argos and Homebase see sales rise | Argos and Homebase see sales rise |
(35 minutes later) | |
Home Retail Group, the owner of Argos and Homebase, has said its profits will be at the top end of forecasts after reporting higher Christmas sales. | Home Retail Group, the owner of Argos and Homebase, has said its profits will be at the top end of forecasts after reporting higher Christmas sales. |
Like-for-like sales at Argos were up 3.8% in the 18 weeks to 4 January, and climbed 4.7% at Homebase. | Like-for-like sales at Argos were up 3.8% in the 18 weeks to 4 January, and climbed 4.7% at Homebase. |
The retailer now expects to report full-year profits at the top end of the £90m-£109m range forecast by analysts. | The retailer now expects to report full-year profits at the top end of the £90m-£109m range forecast by analysts. |
The group also announced that John Walden, the current head of the Argos business, will become chief executive. | The group also announced that John Walden, the current head of the Argos business, will become chief executive. |
Current boss Terry Duddy announced last year that he would be stepping down. | Current boss Terry Duddy announced last year that he would be stepping down. |
Internet sales growth | |
Mr Duddy said that both Argos and Homebase had delivered good trading performance "despite a challenging consumer environment", with internet sales at Argos particularly strong. | Mr Duddy said that both Argos and Homebase had delivered good trading performance "despite a challenging consumer environment", with internet sales at Argos particularly strong. |
"In its peak trading period Argos has continued to grow internet sales, which now represent nearly half of total Argos sales," he said. | "In its peak trading period Argos has continued to grow internet sales, which now represent nearly half of total Argos sales," he said. |
"This growth was supported by a strong performance in mobile commerce sales which represented 20% of total Argos sales in the period. This gives further reinforcement to our plan for Argos to become a digital retail leader." | "This growth was supported by a strong performance in mobile commerce sales which represented 20% of total Argos sales in the period. This gives further reinforcement to our plan for Argos to become a digital retail leader." |
Internet sales grew to represent 46% of total Argos sales, up from 42% for the same period last year. | Internet sales grew to represent 46% of total Argos sales, up from 42% for the same period last year. |
Growth was helped by the popularity of the retailer's "Check & Reserve" service, Home Retail Group said. | Growth was helped by the popularity of the retailer's "Check & Reserve" service, Home Retail Group said. |
Argos accounts for about 70% of the group's revenues. It reported strong demand for tablets, video games and televisions over the Christmas period. | |
At Homebase, where stores are being revamped, sales were boosted by demand for big-ticket items. |
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