Home Retail Group PLC has posted its results for the 13 weeks to August 30th. Argos sales for the 13 weeks were up by 1.2 per cent to £901 million with Homebase posted a modest rise of 0.1 per cent to £390 million. Over the half year Argos comparable sales are 2.9 per cent up at £1.77 billion, with Homebase showing a 4.1 per cent rise to £835 million.
There are 734 Argos stores and 323 Homebase stores. CEO John walden said “We remain cauriosuly optimistic about the broader economic environment. Key economic indicators seem to be improving , however retail spending in general has been inconsistent across both product categories and geographies, suggesting that there is not yet a sustainable, broad-based consumer recovery.”
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