Home Retail said today that sales had fallen less than analysts expected at both its Argos and Homebase units in the run-up to Christmas, and forecast yearly profit in line with its own previous forecast.
The company said today that it expected full-year pretax profit to be around the mid-point of its previously indicated range of between £250m sterling and £275m.
Sales at Argos stores open more than a year fell 4.9% in the 18 weeks to January 1, which includes its fiscal third quarter, compared with an expected 5.7% decline, according to expectations. Sales had dropped 5% in the second quarter.
Homebase like-for-like sales fell 1.2%, compared with an expected fall of 2% and with flat second-quarter sales.
