Electronics sales boost Argos Q4 takings

Home Retail Group has announced that total sales grew 1.6 per cent to 1.744m between September 2nd and January 5th.

Internet sales for the year accounted for 42 per cent of total sales.

"Argos had a good peak trading period building on its first half performance,” says Terry Duddy, Home Retail Group chief executive. Mobile commerce sales grew by 125 per cent as our customers took advantage of new tablet and smartphone apps and improved website functionality.”

Like-for-like sales for Q4 also increased by 2.7 per cent, with electronics improving as a result of a growth in tablet sales.
The company now expects full-year profit to 10m ahead of the 73m market consensus.
Whilst we anticipate consumer confidence will remain subdued in the coming year, we are focused on delivering the transformation plan to reinvent Argos as a digital retail leader and the ongoing development of the Homebase proposition," added Duddy.