The UK's second largest supermarket chain, which includes Argos, is the latest retailer to report a resilient Christmas in the face of pressures from the cost of living crisis
"Customers shopped early, buying Christmas treats and fizz more than once and looked for deals, taking advantage of Black Friday and other seasonal offers.
"Argos offered great value and quality, and, as train and postal strikes disrupted the country, customers appreciated its reliability and convenience.Resilience in the face of the cost of living crisis has been a theme of the post-Christmas retail reporting season so far.Neil Wilson, chief markets analyst at markets.
"Perhaps that is why shares are off 3% or so this morning. Profits are expected to be at the upper end of the guidance range of £630m to £690m, but remains cautious on the consumer outlook.Among other major retail names updating the market on Wednesday was JD Sports Fashion. It reported total revenue growth of over 20% in the six-week Christmas shopping period to the end of December.
The company raised its full year profit forecast as a result, saying that it now expected profit before tax and exceptional items to come in above £1bn.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Record Christmas for Sainsbury's despite rising costsThe supermarket giant said overall sales were up by 7.1% during the festive period.
Read more »
Argos issue energy-saving tips including air fryers and other cooking appliancesArgos have listed some great tips for their customers on how they can save some extra cash this year and cut down on their expensive energy bills amid the rise in the cost of living.
Read more »
Argos shoppers praise curtains on sale that 'keep out the cold and draughts'Argos has the perfect solution that is said to help your home stay warm during the colder weather.
Read more »
Argos shoppers hail 'life saver' heater worth £32 that costs 40p an hour to runThe cheap fan heater even features a cold air function that can make it useful during the summer months as well - but its stand out feature is definitely the hot setting.
Read more »
Sainsbury's shoppers on the hunt for £18 kids shoes that are 'scanning at £5'One savvy parent took to the Extreme Couponing and Bargains UK Group on Facebook after they found the incredible bargain.
Read more »
ISO New England Fines Power Plants $39M for Coming Up Short on Christmas EveAs New Englanders celebrated Christmas Eve, the power grid operator came closer to ordering rolling blackouts than it had in more than four years as several power plants failed to deliver on reserve capacity. ISO New England imposed penalties of roughly $39 million on power plant operators for failing to provide reserves during a confluence of factors including extreme cold…
Read more »