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The week ahead: Home Retail Group to update on trading

some of the biggest names in retailing and consumer goods are set to report this week, highlighting the confidence and spending power of British shoppers.

Home Retail Group's digital turnaround strategy for Argos should show further signs of paying off when it reveals higher half-year profits on Wednesday.

The group, which also owns DIY chain Homebase, is expected to post pre-tax profits up 26 per cent to £34.6million as it cuts out catalogues in favour of iPad tablets at Argos's 747 shops.

Argos has embarked on a £300million five-year plan to revamp the business by 2018, as it gets to grips with competition from supermarkets, Amazon, Dixons and department stores.

The plan was inherited by new chief executive John Walden, after long-serving head Terry Duddy stepped down in March. Walden ran Argos prior to taking charge at Home Retail.

Source :

19 October 2014

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