Homebase results up, Argos down

Home Retail Group has seen sales at its Homebase chain rise thanks to recent good weather, while results were less positive for Argos.

The group says like-for-like sales at Homebase, the do-it-yourself chain, lifted 3.8% to £465m in the 13 weeks to 30 May compared to the same period a year ago. It enjoyed a boost in sales for its gardening and outdoor products.

In contrast, like-for-like sales at its catalogue-based business, Argos, fell 2.8% during the same quarter, but remained ahead of analysts’ expectations.

Argos this year struck a deal with online retailer The Hut Group to launch an online entertainment shop in a bid to scoop up sales displaced by the collapse of high street entertainment retailers Woolworths and Zavvi.

Home Retail Group chief executive Terry Duddy says: “At this early stage of the financial year we continue to plan cautiously, with our trading focus remaining on driving cash gross margin and achieving further cost efficiencies.”

In the last financial year the retail group saw its profits fall 24%, a direct result of consumers’ move to cut back on spending during the economic downturn.

The retail group has already said it plans to restructure its store portfolio following the collapse of rival furnishing chain MFI in November last year

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here