Mixed retail bag at GUS
Experian shines but sales decline at Homebase and Argos
Argos increased its sales by 4 per cent in total in the first half. New stores contributed nearly 7 per cent, while like-for-like sales declined by 3 per cent. Compared to the same period last year, there were good performances from consumer electronics (particularly MP3 players and LCD televisions), white goods, leisure and toys the company added that Jewellery and housewares remained difficult.
Sales at Homebase declined by 1 per cent in total for the seven months to 30 September 2005.New stores contributed 3 per cent growth while like-for-like sales declined by 4 per cent. The company said that there there were strong performances from horticulture (new ranges and merchandising) and from big ticket items, especially in kitchens and Furniture Extra, which benefited from new ranges and additional mezzanine space, but tools building and seasonal gardening lines were weaker.
Experian total sales in the first half increased by 29 per cent at constant exchange rates with strong organic growth (12 per cent) complemented by the contribution from acquisitions (17 per cent).
GUS added that preparations for the planned demerger of GUS’ remaining 65 per cent stake in Burberry in December 2005 are on track.
Burberry has appointed Angela Ahrendtsas Chief Executive on 1 July 2006. Rose Marie Bravo will assume the role of Vice-Chairman.
John Peace, Group Chief Executive of GUS, said “‘An outstanding performance from Experian was clearly the highlight of our first half.With sales up 29%, the strength of Experian’s broad product and geographic reach is evident. ARG continues to be affected by the challenging UK retail environment but made good operational progress in the half. We believe that all our businesses are executing effectively on plans designed to deliver long-term value creation for shareholders.’
