Home Retail Group plc (HOME.L,HMRLF.PK) reported a 1.0% improvement in second-quarter total sales at Argos to 867 million pounds, with like-for-like sales up 1.0% in the quarter. The company said net closed space reduced sales by 0.4%; seven stores closed in the quarter, reducing the store portfolio to 739.
Meanwhile, consumer electronics deliverd an improved sales performance, driven by strong growth in tablets and e-readers, which along with further good growth in white goods offset the market driven sales declines in the video gaming and audio categories and the weaker trading in seasonal products, Home Retail added.
Quarterly Homebase sales slid 3.9% to 366 million pounds, with like-for-like sales decline of 3.7%, which was driven by big ticket sales which were down in a market that continues to be challenging, and seasonal products which have continued to be impacted by the poor weather conditions. Sales for the remaining categories were broadly flat. Net closed space lowered sales by 0.2%; one store closed in the quarter, reducing the store portfolio to 340.
Click here to receive FREE breaking news email alerts for Home Retail Group Plc and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org