THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sales slump at Argos and Homebase

Home Retail has reported a fall in sales at Argos Stores in its second quarter as cash-strapped shoppers continue to put off purchases of consumer electronics and big-ticket household items.

CITY & CORPORATE

Sales slump at Argos and Homebase

Like-for like-sales at Argos stores open more than a year fell 8.6% in the 13 weeks to 27 August.

In a trading statement issued today the company said: “The consumer electronics market has remained weak and has again accounted for the majority of the reduction in Argos' sales."

Argos saw total sales fall by 7.1% to £859 million in its second quarter and decline by 7.6% to £1.7 billion in the first six months of the year.
 
DIY chain Homebase, which is also part of the Home Retail group, reported a 3.1 % fall in like-for-like  sales. Total sales dropped by 3.8%.

"Overall, the performance in the quarter was in line with our expectations," said group chief executive Terry Duddy.

"Argos' sales continued to be impacted by the decline in the consumer electronics market, while at Homebase, after a good first quarter which saw strong seasonal sales, the second quarter was more challenging."

Duddy added that the group was in good operational shape as it approached the Christmas trading period and would continue to plan cautiously. 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing