Operating highlights
- Strength of the operating model and excellent cost management helped to offset further challenges in the market environment
- Growth in market share at both Argos and Homebase
- Remaining highly price competitive while maintaining a focus on absolute cash gross margin
- Leadership in multi-channel convenience with the internet now accounting for 28% of total Argos sales and online Check & Reserve growing nearly 50%
- More choice at Argos with over 15,000 lines available for immediate store collection and the expansion of online home delivery ranges
- Successful peak trading season at Homebase, with a strong operational performance and tight cost control
- Continuing development of the overall customer offers at Argos and Homebase to meet changing consumer needs
