UK: The Home Retail Group has today published an interim management statement for the 18 weeks from Sunday 28 August 2011 to Saturday 31 December 2011.
Total sales at Homebase declined by 2.5% to £475m in the period. Net new space contributed 0.1% in the period with the store portfolio remaining at 342. Like-for-like sales declined by 2.6% in the period. Big ticket sales were down and continued to be impacted by a challenging market, while sales for the remaining categories were broadly flat.
Terry Duddy, chief executive of Home Retail Group, commented: "In a trading environment that has been both volatile and demanding, Homebase has again seen more resilient sales. Argos sales continue to be impacted by the market decline in consumer electronics categories, however we saw internet penetration reach over 40% of total sales, with Check & Reserve being boosted by the development of mobile commerce as customers embrace our leading multi-channel proposition.
