Home Retail Group, which owns Argos and Homebase, is to pilot a new store format that could eventually be rolled out across the country. Daily Telegraph. The Times
The group plans to open three trial Home store + more, which sells a range of homewares including bedding, cookware and gifts, in the UK this year. The chain currently has two Home store + more outlets near Dublin.
Terry Duddy, chief executive of Home Retail Group, announced plans to open three trial stores in the UK alongside full-year results. Its full-year pro forma pre-tax profits had risen by 12% to £367.7m.
Home Retail Group plans to open a further 30 Argos stores this year and 15 new Homebase stores.
But Duddy warned that the DIY market was likely to remain tough for at least another year and added that the group was reviewing the future of 100 smaller Homebase stores