Argos and Homebase post rise in quarter sales

Suzie Neuwirth

HOME Retail Group, which owns Argos and Homebase, today announced increased sales in both businesses, but warned that it expects consumer spending to remain subdued.

The company posted a 1.9 per cent rise in sales during the last quarter at catalogue store Argos, up to £828m, driven by success in consumer electronics and electricals.

Sales at DIY retailer Homebase rose 1.4 per cent over the period to £422m, although this was slightly behind expectations, with sales impacted by volatile weather.

“Whilst we expect consumer spending to remain subdued, we are on track with delivering our investment plans to drive the long term development of both Argos and Homebase,” said chief executive Terry Duddy.