GUS sees seasonal revenue upturn

GUS group, owner of discount retailer Argos and credit check agency Experian, has reported a moderate increase in pre-Christmas revenues.

Argos, which has 17 branches in the Republic, posted a 7 per cent rise in like-for-like turnover in the 14 weeks to January 4th. The upturn in turnover was the result in part of greater demand for electrical goods and for home furnishings.

GUS declined to provide a breakdown of turnover in Ireland but said the performance was in line with that of its British operations.

Experian, which opened an Irish division in 1997 and acquired the Irish Trade Protection Association a year later, recorded a 12 per cent upturn in the three months to December 31st.

The international division, including the Republic, posted 11 per cent turnover growth.

Argos opened an outlet in Blanchardstown, Dublin, last year and plans to unveil further branches over coming months as part of its commitment to launch 35 new stores annually.

Meanwhile Debenhams, the British clothes and fixtures vendor with outlets in Dublin and Belfast, said pre-Christmas like-for-like turnover grew 2.8 per cent, sending gross margins up by 0.2 per cent.

Sales in cosmetics and juvenile fashion lines were particularly brisk in the 19 weeks to January 11th it said.

However, chief executive Ms Belinda Earl said cooling in the Irish and British economies meant the group would be looking to the future with caution.

Debenhams plans to open a store in Derry later this year and in Cork in 2005.