CAROLINE GULLIVER ESPIRITO SANTO
I think it was a good update. It’s been a gradual trend towards online sales, but it’s really the sale of iPads that has increased the sales values. At Homebase, the fact that gross margins are up was positive, and like-for-likes were only slightly down.
PHILIP DORGAN PANMURE GORDON
While this is a short trading period being reported, it does beat expectations; we would not get too carried away with the fact that this is the third consecutive quarter of positive like-for-like sales growth at Argos. We think Argos’s turnaround will take too long and Homebase is heading towards losses.
KEITH BOWMAN HARGREAVES LANSDOWN
The company’s turnaround appears to be gaining traction... Nonetheless, with the recovery still in its infancy and the outlook for the consumer still highly challenged, analysts have remained sceptical. Today may again see some thawing in opinion, but again it may still be too early to become an outright optimist.