Morrisons share price fall drags FTSE 100 index down after closure statement – London Report September 11, 2015 London’s leading shares fell yesterday, with supermarket Morrisons among the biggest fallers. At the end of the day, the benchmark FTSE 100 index was down by 1.18 per cent, or 73.2 points, at 6,155.81. Morrisons shares fell 2.8 per cent after the supermarket said it was closing M Local stores amid falling sales and profits. [...]
Weaker French demand weighs on Kingfisher September 16, 2015 SHARES in Kingfisher took a hit yesterday after the B&Q and Castorama owner said weaker-than-expected demand in France offset a stronger sales performance in Britain. The DIY giant, which also owns Brico Depot and Screwfix, said adjusted pre-tax profits fell by 2.3 per cent to £384m in the six months to 1 August, blaming adverse [...]
Argos sales fall 3.9 pc in disappointing quarter for Home Retail Group June 11, 2015 Argos sales for the first quarter of 2015 were disappointing, with market declines leading to sales in electrical products falling. The figures Like-for-like sales at Argos declined 3.9 per cent to £846m over the 13 weeks to the end of May, with total sales falling 2.6 per cent on 2014, after "declines in key electrical and seasonal product [...]
Argos owner Home Retail Group hits back at claims it could be the next Comet October 21, 2015 Home Retail Group’s boss hit back at claims that Argos was at risk of becoming the next Comet, the collapsed electronics chain, after a profit warning sent shares crashing yesterday. The FTSE 250 retailer, which also owns Homebase, said investment in its new same day delivery service, weak sales of electrical goods, and uncertainty around [...]
Homebase set to close one in four of its shops October 22, 2014 HOME Retail Group said yesterday it planned to shut a quarter of Homebase’s 323 branches, blaming excess retail space and the rise of a generation that had fallen out of love with DIY. Chief executive John Walden said the rise of online and growing competition had left the DIY market “over-spaced” while an increasing number [...]
Who will fix it for Homebase if nation stops doing DIY? – Brand Index November 4, 2014 Homebase, the home improvement giant, has announced that it is to close about a quarter of its 323 stores, raising questions as to whether this a necessary restructuring or because the nation – and particularly the younger generation – has fallen out of love with DIY. With house prices increasing over the past few years, [...]
Home Retail Group sells Homebase in Battersea for £52m to homes developer Fifth Capital London November 24, 2014 The housing market in London’s Nine Elms area is booming. But Home Retail Group has decided to sell its DIY store Homebase in Battersea after receiving a £57m offer for the sought-after site. The retailer said yesterday it had exchanged contracts to sell the huge site on York Road to Fifth Capital London, a little-known [...]
Weak electricals market hurts sales at Argos June 11, 2015 SHARES in Home Retail Group rose three per cent yesterday after the Argos owner said it was upbeat on prospects for the second half of the year, despite a decline in sales. Like-for-like sales at Argos declined 3.9 per cent to £846m over the 13 weeks to the end of May, after weak demand for [...]
Home Retail ups Argos digital shop upgrades April 29, 2015 HOME Retail Group said yesterday that it aims to have more than 200 “digital” Argos stores by the end of the financial year after efforts to modernise its estate helped deliver a 32 per cent rise in full-year profit to £93.8m. Argos will convert between 50 to 75 of its traditional stores into the new [...]
Topps Tiles says DIY is shrinking May 19, 2015 TOPPS TILES boss Matt Williams said consumers were shifting away from carrying out DIY projects themselves, as the growth of its trades business helped the retailer post better-than-expected first-half profits. Williams said trade sales increased to 48.3 per cent of the business from 44 per cent last year. “People are becoming more adventurous with their [...]