Video games star in strong Argos results

Argos says sales of electricals – includingvideo games, tablets, TVs and white goods – helped it deliver a strong financial quarter, as its parent company appoints a new chief exec.

Total sales grew by 3.6 per cent to 1.808m while like-for-like sales increased by 3.8 per centfor the 18 weeks from September 1st 2013 to January 4th 2014.

Home Retail Group has also announced that John Walden – who has been Argos’ MD for almost two years – will join the board as chief executive from March 14th, following a period of handover from current chief exec Terry Duddy.

Internet sales grew to represent 46 per cent of total Argos sales, up from 42 per cent for the same period last year. Mobile commerce sales grew by 75 per cent against the same period last year to represent 20 per cent of total Argos sales in the period, up from 12 per cent in the prior year.

"Electrical products delivered a strong sales performance principally as a result of growth in video gaming, tablets, televisions and white goods, partially offset by the continued declines in audio and photographic sales," the company said.

PCR has more details.

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