Argos boss to take helm at parent firm Home Retail

John Walden, the managing director of Argos, was today named as the new chief executive of the catalogue chain’s parent company.

Home Retail Group, which also owns DIY store Homebase, said Walden would replace Terry Duddy as group chief executive on 14 March.

Duddy announced in September that he would be stepping down after 15 years at the helm of the group.

The change in leadership was announced as Home Retail said like-for-like sales at Argos rose 3.8 per cent to £1.8 billion during the 18 weeks to 4 January, while Homebase grew 4.7 per cent to £464 million.

Duddy said: “As a result of the trading performance, we now expect to achieve full-year group benchmark profits towards the top end of the current range of market expectations of £90m to £109m.”