Weak demand proves drag for Argos

High street chain Argos suffered another slide in sales over the summer as demand for televisions and tablet computers remained weak.

The firm, owned by Home Retail Group, saw comparable store sales drop 2.8 per cent in its second quarter after a disappointing August, although this was an improvement on the 3.9 per cent slide in the previous three months.

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Argos said sales of electrical products, as well as white goods such as fridges and dishwashers, continued to come under pressure, although toy sales were strong over the summer.

Like-for-like sales across Argos over the half year as a whole were 3.4 per cent lower.

Home Retail saw overall trading buoyed by Homebase as like-for-like sales across the DIY chain lifted 5.9 per cent in its second quarter, although this was partly driven by stock clearance sales as it closed eight stores over the summer.