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home retail group (HMRLF) Key Developments

Home Retail Group Appoints Alexei Cowan as New Head of Trends

Alexei Cowan has been appointed as the new Head of Trends at Home Retail Group. Alexei will be responsible for product and trend development across the Group. Alexei joins the business with a wealth of experience having trained as a furniture designer with a Masters inIndustrial Design. Alexei started her career in lighting, supplying designs to major high street retailers including Heals, M&S, Laura Ashley and Designers at Debenhams. For the last eight years, Alexei worked at Next both designing products and helping co-ordinate the look and feel of ranges.

Home Retail Plans To Spin-Off Homebase

Home Retail Group plc (LSE:HOME) is planning to spin-off Homebase Limited so it can concentrate on developing its more prosperous Argos chain. City sources said Home Retail had considered selling Homebase previously, but the option has come into sharper focus' recently following the commencement of a company-wide strategic review by John Walden, Chief Executive of Home Retail, and signs of stronger sales and profitability at Homebase. A final decision could be made in the coming weeks, several sources told The Mail. The most likely exit for the Homebase business is for it to go to a private equity firm rather than spinning it off on the stock market.

Home Retail Group plc Approves the Final Dividend for the 52 Weeks Ended March 1, 2014

Home Retail Group plc announced that the annual general meeting of 2014 approved the final dividend of 2.3 pence per ordinary share for the 52 weeks ended March 1, 2014.

Home Retail Group plc Announces Interim Management Statement for the Period of Thirteen Weeks from 2 March 2014 to 31 May 2014

Home Retail Group announced the interim management statement for the period of thirteen weeks from 2 March 2014 to 31 May 2014. For the period, total sales at Argos grew by 4.8% to £868 million. Although the store portfolio remained unchanged at 734, net closed space reduced sales by 0.1% in the quarter. Like-for-like sales increased by 4.9% in the quarter. Growth was driven by a strong performance in seasonal products together with continued sales growth in electrical products, principally as a result of growth in video gaming and TVs, partially offset by a market driven decline in tablets. Internet sales grew in line with total company sales and represented 42% of total Argos sales. Within this, mobile commerce grew by 56% and represented 21% of total Argos sales. The approximate 25 basis point gross margin decline was principally driven by an adverse sales mix impact from the growth in margin dilutive electrical products. Total sales at Homebase grew by 5.5% to £445 million. Net closed space reduced sales by 2.4% in the quarter; there was a net reduction of one store, bringing the store portfolio to 322. Like-for-like sales increased by 7.9% in the quarter driven by strong sales of seasonal products, which represented around 40% of total sales in the quarter and which benefited from better weather conditions in comparison to the first quarter of the prior year. There was also growth in sales of big ticket products, while sales for the remaining categories were slightly lower overall. The approximate 50 basis point gross margin decline was principally driven by an adverse sales mix impact from the growth in the margin dilutive seasonal and big ticket product categories.

Home Retail Group plc, Q1 2015 Interim Management Statement Call, Jun 12, 2014

Home Retail Group plc, Q1 2015 Interim Management Statement Call, Jun 12, 2014

 

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Company Last Change
ASOS PLC 2,833 GBp +65.00
Darty Plc 83.25 GBp +1.25
Dunelm Group PLC 880.00 GBp -9.00
Groupe Fnac €33.77 EUR +0.27
Halfords Group PLC 477.00 GBp -2.30
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Valuation HMRLF Industry Range
Price/Earnings 27.6x
Price/Sales 0.3x
Price/Book 0.5x
Price/Cash Flow 27.4x
TEV/Sales 0.3x
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