9:05am Friday 12th March 2010
HOME Retail Group yesterday said it expected annual profits to exceed market hopes, despite a new year slide in sales at its Argos chain.
The retailer said profits were likely to be about £290m in the year to February 27, slightly ahead of city expectations.
Argos sales in the year rose 1.5 per cent to £4.35bn, including a 6.6 per cent drop in the final eight weeks of the period after snow disruption and the later launch of its spring catalogue which caused same-store sales to slump 9.4 per cent.
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