Sales rise at Argos and Homebase
Homebase sales up 5.9% and Argos up 2.3%
Home Retail Group has reported sales in the six months to 31 August rose by 3% to £2.59bn, with Argos up by 2.3% and Homebase up by 5.9%. Homebase had recorded its best like-for-like sales performance since 2002, according to the company.
The DIY giant has refreshed five stores, with 10 more stores refits planned by the end of the financial year and introduced the launch of a next or named day delivery. In addition, it grew its multi-channel sales by 28%.
Home Retail Group cited the internet had increased to 43% of Argos’ total sales, with mobile transactions growing 124% to account for 16% of sales.
Chief executive of Home Retail Group, Terry Duddy said: “Argos performed well and recorded its fifth consecutive quarter of like-for-like sales growth. It has continued to grow its internet sales, powered by the growth in mobile commerce which now accounts for 16% of Argos’ total sales. Homebase traded strongly through its peak trading period, recording its best half of like-for-like sales performance since acquisition in 2002, and has now achieved 18 consecutive quarters of market share growth in the shed sector.”
However Duddy added the retail market remains tough: “As we look ahead to the second half of the year, we expect consumer spending will remain subdued, and whilst some macroeconomic indicators are improving, these have not yet led to an increase in household disposable income.”