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Growth in tablet market increases profits

Consumer electronics deliver strong sales at Argos

Total sales for retailer Argos have grown by one per cent during a difficult period for the high street, partly driven by the consumer electronics category.

Parent company Home Retail posted its financials for the quarter today, revealing that total sales for Argos reached £867m, with a growth of one per cent. Like-for-like sales increased by 1.4 per cent.

The firm revealed that consumer electronics were a key sector in this quarter, driven by strong growth in tablets and e-readers, which it said helped to offset declines in the video gaming and audio categories (which are probably not helped by the lack of new consoles at the moment).

Check & Reserve has continued to impress, with sales via the service growing by 24 per cent, representing 30 per cent of total Argos sales.

Total internet sales grew 16 per cent and represented 42 per cent of total sales. Consequently, total multi-channel sales represented 52 per cent of total Argos sales, up from 47 per cent a year earlier. No doubt other retailers will be eyeing some of those figures with envy.

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