Home Retail Group shares up on Argos sales data

<p>Argos sales data pushed Home Retail Group shares up.</p>

The share price of Home Retail Group rocketed today (March 14th) on the back of news tablet computers have helped Argos to record growth in sales.

It was announced by the group, which also owns Homebase, that Argos saw like-for-like sales at stores in the last eight weeks go up 5.2 per cent on the same period last year.

Speaking to BBC News, Matt Piner, research director at retail consultancy Conlumino, stated the retailer deserves credit for ensuring it is well placed to capitalise on displaced consumers from competitors such as Comet that have gone out of business.

Home Retail Group said in its statement that tablet computers are among the products that have been popular in the last few months.

At 15:30 GMT today, shares in Home Retail Group were up by close to 16 points, a rise of almost 12 per cent, standing at 148.80.

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