Home Retail is hit by slump at Argos June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year, in line [...]
No World Cup magic June 10, 2010 WITH the start of the World Cup just days away, fans have been splashing out on flat-screen TVs. It’s strange then that the bigger-than-expected slump in Argos revenues was driven by weak TV sales. If the catalogue retailer can’t shift tellys in the run up to the year’s biggest sporting event, when can it? This [...]
Home Retail suffers as TV and video game sales slump June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its catalogue-based Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs the Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year [...]
CITY VIEWS: WHO DO YOU THINK WILL WIN THE GUINNESS PREMIERSHIP FINAL? May 27, 2010 RICHARD BARBER | JP MORGAN “I would like Leicester to win because they have more England players, and I think they will. Saracens were romping ahead early in the season but to me that was because they didn’t have any Six Nations players, so all the other teams were below par, but then they caught [...]
Asda takes over Netto in £778m deal May 27, 2010 ASDA has bought the Netto supermarket chain in the UK for £778m. Netto has 193 stores, which will be converted to small Asda stores by next Summer, if regulators give the deal the go-ahead. Asda plans to employ up to twice as many staff in each of the stores it has acquired. It sees the [...]
Andy Clarke set to land Asda chief executive role May 6, 2010 ASDA is tipped to promote its chief operating officer, Andy Clarke, to the top job next week following chief executive Andy Bond’s decision to step aside. Clarke is understood to have been selected ahead of several internal candidates including Darren Blackhurst, Asda’s punchy trading director. Blackhurst has now resigned after five years at the Wal-Mart [...]
TIME LINE | WORLD’S MAJOR OIL SPILLS May 3, 2010 ● Argo Merchant, December 1976 The vessel carrying 7.7m gallons of Number 6 oil ran aground off the coast of Nantucket Island, Massachusetts and dumped its entire cargo into the sea when it broke apart. ● Ixtoc I, June 1979 The exploratory oil rig off the Bay of Campech in Mexico suffered from a blowout [...]
Home Retail plans £150m share refund April 28, 2010 ARGOS and Homebase owner Home Retail Group yesterday announced plans for a share buyback of up to £150m as new figures showed its annual profit had dropped by 11 per cent. Underlying profits fell to £292.9m for the year to 27 February – down from £327.7m for the year before – the company said. Earnings [...]
Home Retail in share buy back as earnings fall April 28, 2010 ARGOS and Homebase owner Home Retail Group has announced plans for a share buy back of up to £150m as new figures showed its annual profit had dropped by 11 per cent. Underlying profits fell to £292.9m for the year to 27 February. Earnings were hit by weak consumer spending and a lower pound, which [...]
Homebase to post strong profits April 25, 2010 DIY store Homebase is set to post strong annual profits this week, after the pressures of the downturn pushed consumers to spend on improvements rather than moving house. Homebase, owned by Home Retail, is set to report a 168 per cent rise in operating profit to £40m, according to consensus analyst forecasts. However, Argos – [...]