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Argos warns over Christmas as HRG half-year sales dip

Published: 21 October 2015
A potential repeat of last year's Black Friday mayhem has hung a questionmark over the success of Argos' Christmas this year, parent Home Retail Group (HRG) said this morning.
Argos warns over Christmas as HRG half-year sales dip

Releasing its results for the half year to August 29 2015, the group, which also includes Homebase, warned that "the important Christmas season seems less predictable than usual".

The 26-week period saw group sales down 2% to £2,629m. At Argos total sales fell from £1,769m in the same period last year to £1,743m, and like-for-like sales were down 3.4%.

Homebase also saw a drop in total sales, from £835m to £816m, although like-for-like sales rose 5.6%.

Group benchmark profit before tax was up by £3.2m, or 10%, to £34.1m. At Homebase it increased by £6.5m, but fell at Argos by £5.6m.

Read more in the October 23 issue of DIY Week

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