The UK’s leading home and general merchandise retailer, Home Retail Group, which owns Homebase and Argos, has released results for the last eight weeks of the financial year ending February 27.
Total sales at Homebase were held at £205m, while like-for-like sales declined by 0.6%. Meanwhile, sales at Argos fell by 6.6% to £537m and like-for-like sales declined by 9.4%.
“Group benchmark profit before tax for the year will be around £290m, slightly ahead of current market expectations,” said Terry Duddy, chief executive of the Home Retail Group. “This is a good outcome to a challenging year and is combined with excellent cash generation.”
