Argos and Homebase owner Home Retail Group said it is looking ahead to the crucial Christmas trading period as it posted a rise in sales for the ninth successive quarter.
Like-for-like sales at Argos lifted by 1.2%, with the store saying it had sold 340,000 TVs on the back of the World Cup but the rise was below analysts’ expectations for the 13 weeks to the end of August.
The company said it had no plans to sell DIY chain Homebase, despite rumours it is being coveted by US buyout funds.
Like-for-like sales there were up by just 0.1%, aided by a growth of big ticket items which offset a decline in seasonal items.