Argos sales 攻撃する，衝突する as Britons put off big 購入（する）s まっただ中に 'weak and volatile' 貿易（する）ing 条件s

By This Is Money Reporter
Updated: 09:54 BST, 19 October 2011

株 in Home 小売 Group have slid 11 per cent after it 明らかにする／漏らすd a 急落（する），激減（する） in 利益（をあげる）s and a struggle to 生成する sales at its Argos 目録 chain.

Argos 捨てるd a half-year 利益（をあげる） of just £3.4million in the half year to August 27, 負かす／撃墜する from £54.4million a year earlier, as 消費者s put off buying 'big ticket' electronics items.

Sales fell 9 per cent on a like-for-like basis and 利ざやs were also 大打撃を与えるd by 割引ing in the period.

暗い／優うつな: Argos said that as it enters the busiest 貿易（する）ing period, market 条件s remain both weak and volatile

長，指導者 (n)役員／(a)執行力のある Terry Duddy said the company had not seen the sales 改良 it 推定する／予想するd as it gears up for the Christmas season.

It hopes to 相殺する some of the 騒動 in the UK, where it has 750 蓄える／店s, by setting up a 共同の 投機・賭ける to 開始する，打ち上げる Argos in 中国.

Home 小売 Group's 底（に届く）-line pre-税金 利益（をあげる）s 低迷d 70 per cent to £28million, as its homewares chain Homebase was also 攻撃する，衝突する by a squeeze on its sales and 利ざやs.

The company 持続するd its half-year （株主への）配当 at 4.7p, but said its final （株主への）配当 for the year ending March 2 would be ' 査定する／（税金などを）課すd in the light of the 十分な year 貿易（する）ing 結果 together with the 見通し for the に引き続いて 財政上の year'.

Its 株 were 負かす／撃墜する 13.5p at 106.2p in 早期に morning 貿易（する）ing.

Overseas 拡大: Home 小売 hopes to 相殺する some of the 騒動 in the UK by setting up a 共同の 投機・賭ける to 開始する，打ち上げる Argos in 中国

Argos said its 核心 顧客s have borne the brunt of the 現在の squeeze in living 基準s, 追加するing that with many not 存在 home owners they had 利益d いっそう少なく from low 利益／興味 率s.

The y have 削減（する） 支援する on buying 非，不，無-必須の items, 特に electronics items such as televisions and ビデオ games systems, which saw the group's market 拒絶する／低下する by about 20 per cent in the period, it 追加するd.

Operating 利ざや at Argos was squeezed to 0.2 per cent from 3 per cent as it was 軍隊d to 割引 to 転換 在庫／株 and it 戦う／戦いd higher shipping costs and the 証拠不十分 of the 続けざまに猛撃する.

The chain will enter 中国 next year through a 共同の-投機・賭ける with Haier, which 製造（する）s 器具s such as fridges and freezers.

Like-for-like sales at Homebase, which operates 342 蓄える／店s, were 負かす／撃墜する 0.6 per cent, as sales of big ticket items remained challenging, although sales of bedroom furniture and bathrooms 利益d from new 範囲s and 取り付け・設備 services.

一方／合間, Homebase grew its 株 of the home 改良 market, which has been 不正に 攻撃する，衝突する in 最近の years まっただ中に 落ちるing house prices.

Mr Duddy said: '核心 顧客s at Argos have continued to be under greater 圧力 and there were 現在進行中の challenging 条件s across several 製品 部類s, most 顕著に 消費者 electronics.

'As we now enter our busiest 貿易（する）ing period market 条件s remain both weak and volatile, and in these 早期に weeks of the second half we have not seen the 改良 in sales that we had 心配するd.'

見解（をとる） from the City

投資 bank Espirito Santo said: 'Home 小売 Group has published a weak 暫定的な 声明 this morning, with results at the 底（に届く） end of the 合意 範囲, 現在の 貿易（する）ing 女性 than 推定する／予想するd and the 声明 has opened the door to a （株主への）配当 削減（する）.

'ーに関して／ーの点でs of read across, the 声明 is 消極的な for Kesa and Dixons given comments on 現在の 貿易（する）ing and the 証拠不十分 of the 消費者 electronics market, which is 負かす／撃墜する around 20 per cent によれば 管理／経営. Tesco could also take a 攻撃する，衝突する.'

Regarding the 共同の 投機・賭ける in 中国, Espirito 追加するd: 'This is an 利益／興味ing 開発, but not one that is likely to have a 構成要素 衝撃 on 財政上のs in the short 称する，呼ぶ／期間／用語. The 共同 looks like a good one, but the 可能性のある for the 商売／仕事 is 不明瞭な.'

仲買人 Oriel 安全s said: 'The 声明 is very light of 指導／手引 on the 見通し for the second half save for a general comment that sales have not seen the 改良 the company had been 推定する／予想するing.

'Interestingly the 暫定的な （株主への）配当 has been held at 4.7p and the 業績／成果 ーに関して／ーの点でs of cash 世代 has been good with £200m of 逮捕する cash at the end of the half.

'We see no need to get 伴う／関わるd here and stay with the sell 推薦 and 最高潮の場面 that weak 需要・要求する in big ticket DIY has 関わりあい／含蓄s for Kingfisher where we 繰り返し言う our 減ずる 推薦.'

在庫／株 傾向: Home 小売 株 have taken a 大打撃を与えるing in the past six months