Home Retail (HOME.L); has forecast that annual profit will be slightly ahead of the top end of market forecasts after Argos and Homebase are predicted to beat expectations.
This morning the retailer said it expected pre-tax profit to be "slightly ahead" of the top end of the current range of market forecasts which are in the range of £107-111 million.
The firm had estimated annual profit towards the top end of forecasts of £90-109 million.Like-for-like sales at Argos rose to 5.2% or £526m in the final eight weeks of its fiscal year to March 1. Sales on the same basis at Homebase rose 9.3% to £203m. Argos sales for the year were up 3.3% to £4bn as sales of domestic appliances and white goods rose. Full-year sales at Homebase were up 5.9% to £1.4bn.
Terry Duddy the outgoing Home Retail group chief executive said:
“The positive sales performance in the last few weeks of our financial y ...
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