Argos owner sticks by profits forecast

The owner of the Argos chain said its profits hopes remained intact today after strong demand for laptops and toys helped it overcome “some particularly challenging and volatile” conditions in the run-up to Christmas.

Home Retail Group, which also owns DIY retailer Homebase, said Argos racked up sales of £1.86bn (€2.23bn) in the 18 weeks to January 1, a fall of 3.2% and down 4.9% on a like-for-like basis on the same period a year earlier.