Shares in Home Retail Group, the owner of the Argos and Homebase chains, fell sharply on Wednesday after the company issued a profit warning due to the unpredictability of Black Friday trading.
The announcement came as Home Retail reported a 2% fall in sales but a 10% rise in underlying profit in the six months ended 29 August. It said that the Argos revamp was on track and that 200 Argos digital shops should be open by the end of December.
The news also coincided with the release of research by Experian and IMRG, which forecast a 32% rise in Black Friday online shopping this year, taking total online shopping that day – falling this year on 27 November – to above £1.1bn.
Click here for the full Times article (£)
The Guardian, p. 26
The Independent, p. 53
