Argos had a bleak Christmas, says Home Retail Group
Home Retail Group, has reported weak Christmas sales for Argos but says Homebase has been more resilient.
Home Retail Group, has reported weak Christmas sales for Argos but says Homebase has been more resilient.
The crucial like-for-like (LFL) sales figure for Argos was down a worrying 8.8% in the 18 weeks to the end of December. Over the last 44 weeks like-for-like sales have fallen 8.9%.
At Homebase, in the 18 weeks to 31 December, LFL sales fell 2.6%, over the 44 week period the figure dropped 1.3%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Argos sales continue to be impacted by the market decline in consumer electronics," said Home Retail Group's Chief Executive, Terry Duddy.
"We have managed the business tightly over the peak trading period and expect group benchmark profit before tax for this financial year to be around the mid-point of the current analyst range of £78m-£125m."
Home's shares dropped 3% in early trading on today's update. Over the last year the stock is down 58%
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Trouble brews in B&M as bargain shops take a hit
Opinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?