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Home Retail's Argos sales improve at year-end

Thu, 10th Mar 2016 07:46

(ShareCast News) - Home Retail Group reported an improvement in sales at its Argos stores in the final eight-week trading period for the financial year ended 27 February.The FTSE 250 company, which recently sold Homebase and is currently the subject of a bidding war between South African retailer Steinhoff International and UK supermarket chain Sainsbury's, said like-for-like sales at Argos fell 1.1% on the year.This compared to a 2% decline in the second half and a 2.6% drop for the full year. Total Argos sales were up 1.9% compared with a 1.1% rise in the second half.At Homebase - the DIY unit recently sold to Australia's Westfarmers - LFL sales rose 3.3% in the period compared with a 4.5% increase in the second half and 5.2% for the year.Chief executive John Walden said: "I am pleased with the continued improvement in Argos' sales performance in the period, together with the continued progress in the Argos Transformation Plan to become a digital retail leader."In October we introduced FastTrack - market-leading propositions for same-day home delivery and store collection. Since its introduction, customer awareness of FastTrack has continued to grow and its operations are improving, with both on-time delivery rates and customer satisfaction now at leading levels."The company expects benchmark pre-tax profit for the financial year ended 27 February to be in line with current market consensus of £93m. It also said the group's year-end cash balance will be significantly stronger than previously anticipated at around £625m.
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1 Sep 2016 19:00

Thursday newspaper share tips: 888 Holdings, Steinhoff, Poundland

(ShareCast News) - 888 Holdings is a classic case of 'prey turned predator', The Times´s Tempus said. Owning its own technology - unlike most of its would be suitors - had allowed the company to maintain a steady rate of organic growth over the past five years - and turn the tables on its rivals. S

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8 Aug 2016 16:13

UPDATE 1-Steinhoff springs a surprise with $3.8 billion Mattress Firm deal

* Steinhoff pays "strategic premium" for Mattress Firm - analyst * Deal gives Steinhoff access to U.S. for first time * Steinhoff has capacity to absorb Mattress Firm, debt - Moody's * Shares rise in Frankfurt, Johannesburg (Adds Moody's comment in last two paragraphs) B

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8 Aug 2016 14:37

Steinhoff springs a surprise with $3.8 billion Mattress Firm deal

* Steinhoff pays "strategic premium" for Mattress Firm - analyst * Deal gives Steinhoff access to U.S. for first time * Shares rise in Frankfurt, Johannesburg By Tiisetso Motsoeneng JOHANNESBURG, Aug 8 (Reuters) - Steinhoff's $3.8 billion purchase of debt-laden Mattress

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25 Jul 2016 14:10

Sainsbury's Purchase Of Home Retail Cleared By UK Financial Regulator

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22 Jul 2016 09:55

WINNERS & LOSERS SUMMARY: Vesuvius Faces "Almighty Crash" In Steel

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22 Jul 2016 07:59

Sainsbury's £1.4bn Home Retail acquisition gets CMA approval

(ShareCast News) - The £1.4bn combination of Sainsbury's and Argos owner Home Retail Group was a step closer on Friday, with the Competition and Markets Authority dropping its investigation and allowing the acquisition by the supermarket to proceed. On 1 April, the boards of Sainsbury's and Home Ret

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22 Jul 2016 07:45

BUZZ-Home Retail: UK competition watchdog clears Sainsbury's deal

** Argos-owner Home Retail's shares +3.5 pct, second-largest FTSE 250 gainers, after UK's Competition and Markets Authority clears Sainsbury's acquisition of co ** CMA says its investigation found deal will not hurt competition in the UK ** A fifth of co's daily avg vols gone through

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22 Jul 2016 07:31

LONDON MARKET OPEN: Stocks Lower But CRH And Vodafone Shares Rally

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22 Jul 2016 06:48

TOP NEWS: UK Regulator Clears Sainsbury's Takeover Of Home Retail

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20 Jul 2016 15:07

UK Shareholder Meetings Calendar - Next 7 Days

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5 Jul 2016 16:30

UPDATE 1-Sainsbury's says Brexit doesn't change rationale of Home Retail deal

* Sainsbury's publishes prospectus for Home Retail deal * Hopes to complete deal in September * CEO says danger UK talking itself into recession (Adds detail, CEO, CFO comments) By James Davey LONDON, July 5 (Reuters) - Sainsbury's boss said he remained convinced of the

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5 Jul 2016 14:25

Sainsbury's says Brexit doesn't change rationale of Home Retail deal

LONDON, July 5 (Reuters) - The boss of Sainsbury's said the British supermarket remained convinced of the rationale of its proposed purchase of Argos-owner Home Retail despite increased economic uncertainty following the UK's vote to quit the European Union. "We remain absolutely convince

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4 Jul 2016 10:23

Sainsbury's ends Netto discount chain experiment

LONDON, July 4 (Reuters) - British supermarket Sainsbury's pulled the plug on Netto stores, its 16-strong, two-year experiment designed as a plan to stop losing market share to the country's fast-growing discount sector led by Aldi and Lidl. Sainsbury's set up a joint venture with Dansk S

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22 Jun 2016 15:05

UK Shareholder Meetings Calendar - Next 7 Days

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16 Jun 2016 13:55

REFILE-UPDATE 1-Poundland boss will not stay on to tackle Steinhoff bid

(Adds dropped fourth paragraph) * Jim McCarthy still plans to step down as CEO on July 1 * Deadline for Steinhoff to make takeover offer July 13 * Steinhoff revealed 23 pct Poundland stake on Wednesday * Poundland underlying profit down 13.5 pct in 2015-16 * Shares u

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