Home Retail Group Plc (HOME.L,HMRLF.PK) announced details of the final eight-week trading period for the financial year ended 2 March 2013.
Total sales at Argos grew by 4.3% to 501 million pounds. Like-for-like sales increased by 5.2% in the period. Consumer electronics continued to deliver an improved sales performance driven by strong growth in tablets, which together with further growth in white goods and core electricals, more than offset weaker trading in homewares.
Total internet sales grew in the period, resulting in internet penetration increasing to 43% of Argos' total sales, up from 40% a year ago. This growth was supported by the mobile commerce channel in which sales grew by 117% versus last year.
Total sales at Homebase declined by 2.8% to 191 million pounds. Net closed space reduced sales by 1.3%; one store closed in the period, reducing the store portfolio by five stores over the year to 336. Like-for-like sales declined by 1.5% in the period with an approximate 50 basis point gross margin improvement.
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