Argos jewellery sales decline despite 4.8% growth

Home Retail Group revealed mixed results in its Q1 statement.

Home Retail Group released its interim management statement today (June 12) covering the 13 weeks from March 2 to May 31 2014, citing a 4.8% sales increase across its Argos stores.

Total sales at Argos grew 4.8% to £868 million even though the store portfolio remained unchanged at 734.

Story continues below

The company experienced a small decline in its jewellery sales, as well as its homeware and furniture sales.

Like-for-like sales also increased by 4.9% in Q1 compared to the same period in 2013. Growth was driven by a strong performance in seasonal products together with continued sales growth in electrical goods.

Internet sales grew in line with total company sales and represented a significant 42% of all sales. Mobile commerce grew by 56% and now represents 21% of Argos’ sales.

Chief executive of Home Retail Group, John Walden, commented: “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 a 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 the year."



Related posts