Home Retail Group sales better than expected

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Homebase enjoys warm weather boost.

Sales at Homebase grew by 5.8% to £465m. Net new space contributed 2.0%. Like-for-like sales increased by 3.8% in the quarter.

Total sales at Argos grew by 0.9% to £937m. Net new space contributed 3.7%; five new stores opened in the quarter, taking the portfolio to 735.

Like-for-like sales declined by 2.8% in the quarter but good growth continued in consumer electronics as a whole whilst toy sales were strongly ahead.

Multi-channel sales accounted for 42% of total Argos sales; within this, online Check & Reserve grew by 45%.


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