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Sunday 17 December 2017

Sales at retail giant Argos slide

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Shares at Home Retail Group plunged over 10pc at one stage yesterday after it said that its sales in the final part of the financial year fell 5pc at its Argos division.

Analysts had expected just a 0.2pc decline. But weaker demand for video games and high-end televisions resulted in a much bigger fall.

The drop in like-for-like sales in the eight weeks to the end of February is in contrast to what had been a solid performance by Argos last year.

Home Retail Group also owns Homebase.

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