Argos strong for GUS
Retail group ends year on confident note
Strong sales growth at Argos and an increasingly solid performance by DIY chain Homebase has seen retail group GUS end its financial year in confident mood.
Across the six months to March 31, Argos saw total sales increase by 11 per cent, with like-for-like sales up 4 per cent.
Across the five months to February 28, timed to avoid distortions caused by Easter promotions, Homebase saw total sales increase by 6 per cent, with like-for-likes up 5 per cent.
The company said Argos, which now operates 533 stores, “again clearly outperformed its market and made strong share gains in many major product categories, by offering consumers improved choice, value and convenience.”
Sales were particularly strong in consumer electronics, photography, furniture and homewares. Argos Direct, the delivery to home operation, grew sales by 21 per cent and accounted for 19 per cent of Argos’ sales.
Homebase saw increases in all major product areas, particularly kitchens and bathrooms. GUS also holds a majority stake in fashion business Burberry, which yesterday reported strong sales for the second half.
GUS group chief executive John Peace said: “GUS has finished the year strongly, having traded well in all our businesses. This will be the third consecutive year in which GUS has delivered significant profit growth, illustrating the continuing momentum throughout the group.”
