Argos leads GUS growth
Healthy sales in UK retail businesses
Sales growth at both Argos and Homebase have driven another period of expansion for retail group GUS.
Across the six months to September 30, total sales in the Argos Retail business are up by 13 per cent, with like-for-likes up 7 per cent. GUS said consumer electronics, photography, white goods and leisure categories performed particularly well for Argos, with gains from supply chain initiatives re-invested in lower prices, which are down 5 per cent on last year.
The Homebase DIY chain saw sales increase by 6 per cent in the seven months to September 30, with new stores contributing 2 per cent and like-for-like sales up 4 per cent. GUS said there were sales uplifts from new ranges in areas such as paints and power tools.
The Experian business information delivered double-digit growth, with total worldwide sales up by 15 per cent at constant exchange rates.
Group chief executive John Peace said: “GUS has delivered another strong performance in all our businesses in the first half. We have also successfully completed the partial IPO of the Lewis Group in South Africa and made additional infill acquisitions for Experian.
“Despite continuing challenges in some of our markets, we remain on track for a further year of good progress.”
Fashion brand Burberry, in which GUS has a majority stake, has reported a total sales increase of 14 per cent at constant exchange rates for the first half.
GUS said it has no current intention to sell further Burberry shares when a lock-up arrangement ends next month, and will continue to assess its holding as part of its current strategic review process.
