Home Retail sales slump at Argos


Home Retail, Britain’s number one household goods retailer, says it anticipates a significant cut in its full-year dividend as it posted a further slump in sales at its Argos business over Christmas.

It said trading had been both “volatile and demanding”. Sales at catalogue-based Argos stores open for more than a year fell 8.8 per cent in the 18 weeks to December 31st. – (Reuters)