Argos Group - sales down

Home Retail Group have announced lower sales for Q4 with Argos lower by 8.5% and Homebase 6.5% down. The full year's profits for the group are expected to come in at around £100 million, against £254 million in 2010.

With profits on a downward curve for the last 5 years and Argos having 748 stores in the UK to maintain, the new Managing Director, John Walden, will have a lot on his plate to reverse a worrying trend but has carte blanche to do so.

How many of these stores will remain open in a year or two remains to be seen.