Group boss John Walden dismisses takeover talk after 13% slump at catalogue stores in December offsets other gainsThe boss of Home Retail Group has insisted the company does not need a takeover despite warning that destitute sales at its Argos chain would hit profits.
The group,which is in the sights of Sainsburys and received a £1bn approach from the grocer in November, said like-for-like sales, and which exclude gains from current store space,had tumbled 2.2% in the 18 weeks to 2 January. City analysts had forecast a 0.3% rise. Related: Thousands of Argos jobs at risk if Sainsbury's deal is struck Continue reading...
Source: theguardian.com