UK: Argos sales show sharp fall

The owner of Argos and DIY chain Homebase announced heavy sales falls for both businesses today.

Home Retail Group said Argos like-for-like sales were 5.8% lower in the second quarter of its financial year, covering the 13 weeks to August 30. That compares with the flat performance seen in the previous quarter.

Homebase same-store sales dived 8.3%, although this was better than the 12% fall reported for the first quarter.