Argos sales tumble as electronics spending drops

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Argos sales tumble as electronics spending drops

Simon Quicke

Weak consumer electronics sales were blame for a poor quarterly performance at catalogue retailer Argos, indicating spending remains a problem in retail.

Yesterday Dixons Retail revealed a slump in sales and as the major retailers follow suit with their latest quarterly numbers a picture of seriously constrained user spending is emerging.

Like-for-like sales in the three months to 27 August fell 8.6% at Argos to £859m.

"Overall the performance in the quarter was in line with our expectations," said Home Retail Group chief executive Terry Duddy.

Argos' sales continued to be impacted by the decline in the consumer electronics market, he added.

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