EBay and Argos launch national trial of Click & Collect for merchants September 24, 2013 Online mega auctioneer EBay and high street retailer Argos have announced the launch of a national trial that will offer Click & Collect for EBay merchants. The UK collection services will be trialled at 150 Argos stores for six months. Large merchants will be able to take advantage of the new system, while smaller merchants [...]
Summer sun boosts sales at Home Retail September 12, 2013 HOME Retail Group said yesterday that summer sunshine had delivered a big boost to sales at its DIY chain Homebase in the second quarter, and helped shift seasonal products at its biggest business, Argos. The company said like-for-like sales at Homebase rose by 11 per cent in the 13 weeks to 31 August, comfortably beating [...]
Hot weather sees Argos sell more fans in two weeks than the whole of 2012 September 12, 2013 Home Retail Group, the owners of Argos and Homebase, has seen like-for-like sales grow at both retailers in the 13 weeks to 31 August (release). Argos has seen like-for-like sales up 2.7 per cent in the second quarter as net sales space rose 0.3 per cent. Some benefit from the recent UK heatwave, as Argos [...]
Home Retail’s chief executive to step down September 4, 2013 HOME RETAIL Group’s chief executive Terry Duddy is to step down next year after more than 15 years with the household goods retailer. The Argos and Homebase owner said yesterday that Duddy, who has served seven years as chief executive, will leave by the next annual general meeting on 2 July next year. The 57 [...]
Bottom Line: A top-heavy group in need of a shakeup September 4, 2013 IF YOU’RE going to leave, it’s a shame to do it just when things seem to be improving. Sadly, that is Terry Duddy’s predicament as he announces his decision to move on from Home Retail Group. Duddy was there for the gruelling years when the twin pressures of recession and technological disruption threatened to bring [...]
City Moves for 2 September 2013 | Who’s switching jobs September 1, 2013 Stonehage The wealth management and advisory services company has announced the appointment of Simon Clark as managing director of group services. Clark was most recently at ACPI, where he was chief operating officer. Prior to that, he was chief financial officer at Heartwood, and he has previously held various roles at RBS Financial Markets, Greenwich [...]
Best of the Brokers February 26, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com HOME RETAIL GROUP Espirito Santo rates the retailer “sell” with a fair value of 85p. The broker sees the reported closure of the firm’s Argos joint venture in China as a sensible step, allowing management to focus on improving the key domestic business. [...]
Mothercare UK boss to exit in team reshuffle January 30, 2013 MOTHERCARE’S UK boss is to leave the baby products retailer as part of a management shake-up to stem falling sales at its troubled UK arm. The retailer said yesterday that Mike Logue, who moved to Mothercare from Asda in late 2011, is to step down next month after the role was made redundant. The restructure [...]
Sir Stuart Rose takes the hot seat at Ocado January 22, 2013 SIR STUART Rose, the former boss of Marks & Spencer, is to become chairman of Ocado, in a major coup for the online retailer. The company said Sir Stuart is to replace Sir Michael Grade after its annual general meeting in May. Grade, best known for his roles at ITV and Channel Four, will be [...]
FTSE 100 up as Chinese growth recovers January 18, 2013 The FTSE 100 was firmly up in early deals this morning, as it was lifted by headline natural resources shares on the back of a rebound in Chinese growth. The Chinese economy expanded by 7.9 per cent in the fourth quarter, coming in above expectations and marking an uptick from the 7.4 per cent recorded [...]