Argos owner posts sharp sales fall

Home Retail Group said Argos sales were down 8.1 per cent on a like-for-like basis, leading to a 5.2 per cent drop in revenues to 889 million in the 13 weeks to May 29.

It said consumers had been reluctant to spend due to economic uncertainty, with the video games market particularly hit after a strong performance last year and television sales down despite the forthcoming World Cup.