Argos quarterly sales increase for ninth quarter

Post by Kevin Jackson on 11th September 2014 in General industry

Argos quarterly sales increase for ninth quarter

Argos sales have increased for the ninth quarter in a row despite the increase not meeting analyst expectations.

Analysts predicted that sales would rise 3.4 per cent, however sales only increased by 1.2 per cent. Home Retail Group, parent company of Argos, expects the company to deliver a full-year profit but the outcome will depend on this year’s Christmas trading period at Argos. Sales for this quarter reached £901 million.

John Walden, chief executive at Home Retail Group said: "Key economic indicators seem to be improving, however retail spending in general has been inconsistent across both product categories and geographies, suggesting that there is not yet a sustainable, broad-based consumer recovery."

It was electrical products such as TVs, consoles and white goods that sold the best at Argos while there was less of a demand for homeware, furniture and jewellery. 

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