FTSE slides

Lower profits at John Lewis and a sharp fall in sales at catalogue business Argos derailed retail stocks today.

Thu, 11 Sep, 2008 - 12:26

Lower profits at John Lewis and a sharp fall in sales at catalogue business Argos derailed retail stocks today.

Argos owner Home Retail Group fell more than 7% in the FTSE 250 Index after it said like-for-like sales were 5.8% lower in the second quarter, while its sister company Homebase experienced an 8.3% drop.

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CourtsBusinessHeathrowPerson: John LewisPerson: Charles AllenOrganisation: FTSEOrganisation: ArgosOrganisation: Home Retail GroupOrganisation: HomebaseOrganisation: Lehman BrothersOrganisation: Halifax Bank of ScotlandOrganisation: WaitroseOrganisation: B&QOrganisation: FootsieOrganisation: Marks & SpencerOrganisation: MorrisonsOrganisation: ITVOrganisation: Virgin Media
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