NEWS

Argos sales up by 4.3%

Published on: 18th March 2013

Total sales at Argos have increased 4.3% to £501m across the 2012/2013 financial year, with internet sales accounting for over 40% of total sales.Argos-logo300

The retailer’s like-for-like sales jumped 5.2% in the eight weeks up to March 2nd as sales of tablet devices contributed to a strong performance.

Total internet sales were also up and account for 43% of Argos’ total sales, up from 40% a year ago; mobile sales also soared by 117%.

Sales were driven by increasing demand in white goods and core electricals, offsetting weaker trading in homewares.

Terry Duddy, Home Retail chief executive, said: “This has been a good outcome to a challenging year with group benchmark profit before tax now expected to be around £90m. Against a backdrop of subdued consumer spending for the new financial year, we will continue to invest and are focused on delivery of the transformation plan to reinvent Argos as a digital retail leader. The last 12 months have seen consumers really embrace shopping across different channels and, in particular, utilising the convenience of ‘click and collect’ services.”

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