Published on 12 - September - 2007
Home Retail reports rise at Argos, fall at HomebaseWet weather benefits Argos, but discourages shoppers at the the home enhancement retailer.
Shining star: Argos benefited from the wet summer
Sales at Argos stores, open at least a year, rose 1.8% in the 13 weeks to September 1.
Homebase fared less well with sales down 8% for the same period, and on the same basis.
With July proving to be one of the wettest on record, consumers turned their backs on Homebase's offer of barbecues and garden goods. Argos, however, saw pent-up demand for televisions, stereos and general consumer electronics.
The group said its profitability was helped by cost cutting in the supply chain, and increased sourcing from abroad.
Terry Duddy maintained his cautious stance on the report of the mixed results.
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