Home Retail registers sales growth for Argos - ToyNews

Home Retail registers sales growth for Argos

Total sales at Argos grew by 5.2 per cent to £526m in the eight week period to March 1st
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Home Retail Group has enjoyed a total sales growth at Argos by 5.2 per cent to £526m in the eight week period to March 1st.

Electrical products continued to deliver a positive sales performance for Argos, principally as a result of growth in video gaming, TVs and small domestic appliances.

The remaining product categories were flat year on year, aside from jewellery, which experienced a small decline.

Internet sales for the full-year made up 44 per cent of total Argos sales, up from 42 per cent for the same period last year.

Mobile commerce sales grew by 89 per cent and now represents 18 per cent of total Argos sales.

Argos now brings in 70 per cent of the group's revenue and Home Retail plans to push Argos sales up 15 per cent to £4.5bn by 2018.

Following these results, and sales growth for Homebase, Home Retail expects annual profits to be slightly ahead of market forecasts of £107m to £111m.

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