Home Retail Group (HRG) posted Q4 (8-week period ending 27 February 2016) and FY16 results slightly better than our estimates. In Q4, lfl revenue of Argos (core retail business) decreased by 1.1% and total revenue was up 1.9%, with a 3% contribution from new space. The non-electrical products (particularly furniture and general sports) and mobiles posted healthy growth, while jewellery and electrical products (gaming, tablets and white goods) witnessed a decline. Internet sales grew by 13% du
31 Mar 2016
Argos attempts a comeback
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Argos attempts a comeback
Home Retail Group (HRG) posted Q4 (8-week period ending 27 February 2016) and FY16 results slightly better than our estimates. In Q4, lfl revenue of Argos (core retail business) decreased by 1.1% and total revenue was up 1.9%, with a 3% contribution from new space. The non-electrical products (particularly furniture and general sports) and mobiles posted healthy growth, while jewellery and electrical products (gaming, tablets and white goods) witnessed a decline. Internet sales grew by 13% du