Group Work
Home Retail Group plc was demerged from GUS plc and its shares commenced trading on the London Stock Exchange on 11 October 2006.
Argos sales slide hits Home Retail Group shares
Argos has reported a big drop in sales for the past three months after experiencing worse-than-expected trading conditions, its owner has said.
Home Retail Group shares closed down 14% after it said like-for-like sales - which strip out new selling space - at Argos fell 9.6% in 13 weeks to 28 May.
It added there had been a "significant decline" in sales of consumer electronics goods at Argos.
However, trading at its Homebase DIY chain was helped by the warm weather.
"Trading conditions, particularly at Argos, have proved to be more difficult and volatile than anticipated," said Terry Duddy, Home Retail Group's chief executive, in the firm's trading update.
Argos owner Home Retail Group sees profits fall 20 April 2011
Home Retail Group, owner of Argos and Homebase, has reported full-year profits of £265.2m, down almost 10%.The drop in profit was in line with expectations, after the retailer issued a warning last month that it would undershoot earlier profit guidance
Low confidence
Home Retail Group's sales dropped off particularly sharply at the beginning of this year, prompting the firm's profit warning in March.
"Economic uncertainty and a low level of consumer confidence continue to adversely impact customer spending patterns," said Chairman Oliver Stocken.
12 April 2011 Last updated at 08:10
The British Retail Consortium (BRC) has recorded its worst fall in sales since records began in 1996, a further sign of difficult times on the High Street.
The BRC said total sales in March were down 1.9% on a year ago, although the early timing of Easter last year had an effect on the figures.
But the BRC said shoppers did not want to spend "unless they really had to".
Footwear was the only growth sector, as food and drink, clothing, homeware, electrical, and others
Argos sales slide hits Home Retail Group shares
Argos has reported a big drop in sales for the past three months after experiencing worse-than-expected trading conditions, its owner has said.
Home Retail Group shares closed down 14% after it said like-for-like sales - which strip out new selling space - at Argos fell 9.6% in 13 weeks to 28 May.
It added there had been a "significant decline" in sales of consumer electronics goods at Argos.
However, trading at its Homebase DIY chain was helped by the warm weather.
"Trading conditions, particularly at Argos, have proved to be more difficult and volatile than anticipated," said Terry Duddy, Home Retail Group's chief executive, in the firm's trading update.
Argos owner Home Retail Group sees profits fall 20 April 2011
Home Retail Group, owner of Argos and Homebase, has reported full-year profits of £265.2m, down almost 10%.The drop in profit was in line with expectations, after the retailer issued a warning last month that it would undershoot earlier profit guidance
Low confidence
Home Retail Group's sales dropped off particularly sharply at the beginning of this year, prompting the firm's profit warning in March.
"Economic uncertainty and a low level of consumer confidence continue to adversely impact customer spending patterns," said Chairman Oliver Stocken.
12 April 2011 Last updated at 08:10
The British Retail Consortium (BRC) has recorded its worst fall in sales since records began in 1996, a further sign of difficult times on the High Street.
The BRC said total sales in March were down 1.9% on a year ago, although the early timing of Easter last year had an effect on the figures.
But the BRC said shoppers did not want to spend "unless they really had to".
Footwear was the only growth sector, as food and drink, clothing, homeware, electrical, and others