UK chains still struggling
Argos and Homebase parent GUS revealed resilient third-quarter results this morning, underpinned by a strong performance at consumer credit arm Experian.

Like-for-like sales at Argos were flat and Homebase unveiled a 3 per cent year-on-year sales fall.

However, Experian's North American like-for-like sales were up 31 per cent, the International arm was up 8 per cent and Global Experian jumped 20 per cent at constant exchange rates.

GUS group chief executive John Peace said: 'The performance of both Argos Retail Group and Experian in the third quarter reflects the benefits of our continued investment in initiatives to drive sustainable growth. Both Argos and Homebase outperformed their markets in the period, while Experian's broad range of products and services in many countries around the world continued to underpin its strong performance.'

For the 14 weeks to January 7, total sales at Argos increased by 9 per cent, aided by the chain's expanded store portfolio as a result of 33 acquired Index stores.

Total sales at Homebase increased 1 per cent during the period, which the group blamed on a difficult DIY market.

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