Argos Q2 sales decline

Total sales like-for-like sales at Argos dropped 1.6 per cent in the retailer’s second quarter, down to 927 million.

Growth remained positive in consumer electronics, however – but was at a lower rate than in the previous quarter.

Furniture and homewares continued to show declining sales in challenging market conditions.

Online Check & Reserve orders for immediate store collection grew by over 40 per cent and represented 13 per cent of total Argos sales, with a further 9 per cent of sales being internet orders for home delivery.

Terry Duddy, Chief Executive of Argos parent Home Retail Group, commented:

The performance of Argos and Homebase in the latest quarter was reflective of a difficult consumer environment. However, the Group’s focus on cost control should result in benchmark profit for the half-year being in line with our expectations; the Group has also had further good cash generation.

Profits for the financial year as a whole are, as ever, dependent on the key Christmas trading period, though the Group’s operating model and financial strength will see us well positioned to compete in challenging conditions.”

About MCV Staff

Check Also

There are only four weeks left until IRL!

We’re now only four weeks away from IRL, MCV/DEVELOP’s informal industry get together