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Argos and Homebase see full-year sales lift

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Argos and Homebase owner Home Retail Group today unveiled strong sales in both the businesses over the last year.

Argos reached sales of £526m in the eight weeks to March 1 and £4bn in the whole year. Like-for-like sales grew by 5.2% in the eight weeks and 3.3% in the year. internet sales accounted for 44% of total sales. Mobile commerce grew by 89% to represent 18% of total Argos sales.

At Homebase, sales of £203m in the eight weeks were 9.3% ahead of last year, on a like-for-like basis, while full year sales of £1.5bn were 5.9% ahead of last year.

Terry Duddy, chief executive of the Home Retail Group, said group benchmark pre-tax profits would be ahead of market expectations of £107m to £111m.

Duddy, who is set to leave the group in July, said: “It has been a very exciting time leading the group over the last 15 years. Digital technology, together with changes in consumer behaviour, have fundamentally changed the face of retailing in recent times, and both Argos and Homebase have well-defined plans and strong management teams in place to be leaders in both digital trends and changes in the way people shop.”

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