LONDON (Reuters) - Britain's Home Retail Group (L:HOME) posted its ninth consecutive quarter of improvement in like-for-like sales at its Argos household goods chain, although the rise was short of market expectations, accompanied by an increase in its gross margin at the stores.
The group said on Thursday like-for-like sales at Argos rose 1.2 percent in the 13 weeks to August 30, below analyst expectations of 3.4 percent.
Underlying sales at its smaller DIY arm Homebase rose 0.1 percent, confounding market expectations of a 1 percent fall due to strong comparative figures a year ago when hot summer weather sent sales growth to its highest point in a decade.
(Reporting by Paul Sandle; Editing by Karolin Schaps)