HOME Retail Group said annual profits would exceed market hopes – despite a new year slide in sales at its Argos chain.
The retailer, which has three Argos stores in Huddersfield, forecast profits of about £290m in the year to February 27 – slightly ahead of current City expectations.
Argos sales for the year rose by 1.5% to £4.35bn, although takings fell by 6.6% in the final eight weeks due to snow disruption and the later launch of its spring catalogue.
Annual sales at DIY chain Homebase rose by 3.9% to £1.57bn, but were flat at £205m for the eight weeks to the end of February.
