HOME9 Feb 2013 00:05
The Financial Director of Home Retail, Richard Ashton, on Thursday sold 249,975 shares in the household goods retailer, three weeks after the company raised its full-year profit expectations on the back of increased sales at its Argos business over the Christmas period.
The shares were sold at 127.52p a time, costing the director £318,768 altogether.
In an update published in mid-January, the company said sales at Argos stores open more than a year rose 2.7% in the 18 weeks to January 5th, ahead of a consensus forecast for a 0.2% increase and a 1.4% climb in its second quarter.
The results were driven by growth in sales of electrical products, white goods and toys as consumers picked up gifts during the festive season. Homewares and jewellery were the weaker performers.