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Argos opens 2 commercial properties, despite sales drop
Home Retail Group, which owns stores such as Argos and Homebase, has opened a number of commercial properties in recent months, it has revealed.
Publishing its interim management statement for the 13 weeks from February 28th to May 19th, the company noted there have been difficult times.
Chief executive Terry Duddy said: "Economic conditions remain both challenging and uncertain, with this quarter proving difficult in terms of consumers' willingness to spend."
A 5.2% drop in total sales at Argos occurred in quarter one of 2010, with like-for-like sales falling by 8.1%.
Despite this, two new business properties opened and three stores were relocated at the chain, which has a total of 700 UK outlets.
Mr Duddy stated the group still aims to achieve profit levels similar to those of 2009.
Homebase saw a 1.4% decline in the same period and two commercial properties closed, with the portfolio now standing at 347.
Posted by James Collins
Publishing its interim management statement for the 13 weeks from February 28th to May 19th, the company noted there have been difficult times.
Chief executive Terry Duddy said: "Economic conditions remain both challenging and uncertain, with this quarter proving difficult in terms of consumers' willingness to spend."
A 5.2% drop in total sales at Argos occurred in quarter one of 2010, with like-for-like sales falling by 8.1%.
Despite this, two new business properties opened and three stores were relocated at the chain, which has a total of 700 UK outlets.
Mr Duddy stated the group still aims to achieve profit levels similar to those of 2009.
Homebase saw a 1.4% decline in the same period and two commercial properties closed, with the portfolio now standing at 347.
Posted by James Collins
Fri, 11th Jun 2010