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Argos like-for-likes rise 4.9 per cent in first quarter - ToyNews

Argos like-for-likes rise 4.9 per cent in first quarter

Lift has been driven by seasonal products, electrical, video gaming and TV sales.
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Argos has seen a rise of 4.9 per cent in like-for-like sales in its first quarter of 2014, driven by seasonal products and continued growth in electricals.

Video gaming and TV sales also saw growth, counteracting the small decline the firm saw in sales of tablets.

Total sales were up 4.8 per cent to £868 million at the Home Retail owned merchandiser in the 13 week to May 31st.

Home Retail group chief executive, John Walden, said: “We have had a good start to the year, with both Argos and Homebase delivering positive like-for-like sales growth.

“This growth was aided by strong performance in seasonal products in both businesses, due to better weather overall versus the comparable period last year.

“We are pleased with this encouraging start to they year, but remain mindful that we will annualize more challenging comparators in both businesses through the remainder of the year.”

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