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Argos Home Retail Group growth slows amid warnings

By John-Paul Ford Rojas

Published 30/04/2015

Like-for-like sales at Argos rose 0.6% in the year to the end of February, compared to 3.3% growth the year before
Like-for-like sales at Argos rose 0.6% in the year to the end of February, compared to 3.3% growth the year before

Argos owner Home Retail Group has warned of a "challenging" few months ahead as the retailer battles to transform itself for the digital age.

Chief executive John Walden admitted customers had experienced delays and disruption while its technology struggled to cope with "extreme" online demand.

Like-for-like sales at Argos rose 0.6% in the year to the end of February, compared to 3.3% growth the year before.

DIY chain Homebase, also part of Home Retail Group, saw its growth slow too, from 5.9% to 2.3%.

It comes after the wider group surprised the City last month as it posted a sales decline at both businesses at the start of this year.

Belfast Telegraph

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