Argos and Homebase owner Home Retail Group has said that both businesses delivered good performances, with positive like-for-like sales growth throughout the year.
At Argos, a new focus on multi-channel technology and processes throughout the year resulted in multi-channel sales rising by 53%. The moves included launching improved mobile apps and the trial of six digital concept stores. Meanwhile, at Homebase, another 12 stores were refurbished and the store estate was reduced in line with plans.
For the year ended March 1st, sales rose 3% across the group, with underlying pre-tax profit rising slightly ahead of forecasts at 27%.
John Walden, chief executive of Home Retail Group, commented: "The group has delivered a good performance in what remained a challenging market. Both retail businesses recorded positive like-for-like sales for all four reporting periods, resulting in 27% growth in group benchmark profit before tax. We also made good progress with our strategic plans in both businesses, which will become increasingly important in a competitive retail environment where shopping behaviours are changing rapidly."