Introduction
Home Retail Group, the UK’s leading home and general merchandise retailer, today announces its results for the 26 weeks to 29 August 2009.
Terry Duddy, Chief Executive of Home Retail Group, commented:
“The trading performance at both Argos and Homebase exceeded our expectations. Whilst the consumer environment proved challenging, we have adapted well and maximised the benefit from more favourable weather conditions for Homebase. Our focus on cash margin and an extremely tight control of costs have been the clear drivers of a successful first half performance.
“We continue to plan cautiously for consumer demand over the remainder of the financial year, and there will also be a more significant impact from adverse currency movements during this period. The Group’s operational and financial strength will continue to sustain our competitive advantage in the market place.”
