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| Sales slide at Currys and Argos | Sales slide at Currys and Argos |
| (20 minutes later) | |
| Sales at several of Britain's top retail chains have fallen markedly as a result of the economic slowdown. | Sales at several of Britain's top retail chains have fallen markedly as a result of the economic slowdown. |
| DSG International, which owns Currys and PC World, said like-for-like sales - which ignore new stores - had dropped 10% in the three months to 10 January. | DSG International, which owns Currys and PC World, said like-for-like sales - which ignore new stores - had dropped 10% in the three months to 10 January. |
| Home Retail Group said like-for-like sales at its Argos chain had fallen 7.5% in the 18 weeks to 3 January. | Home Retail Group said like-for-like sales at its Argos chain had fallen 7.5% in the 18 weeks to 3 January. |
| DIY chain Homebase, which is also owned by Home Retail Group, saw like-for-like sales in the same period drop 10.2%. | DIY chain Homebase, which is also owned by Home Retail Group, saw like-for-like sales in the same period drop 10.2%. |
| Among other major companies reporting sales for the Christmas period: | Among other major companies reporting sales for the Christmas period: |
| • Discount fashion chain Primark saw a strong increase in sales despite the wider slowdown in UK consumer spending, with total sales up 18% in the 16 weeks to 3 January | |
| • Europe's biggest independent mobile phone retailer, Carphone Warehouse, saw third quarter like-for-like retail sales rise 6.5%, while revenue at its telecoms division Talk Talk, fell 2% | • Europe's biggest independent mobile phone retailer, Carphone Warehouse, saw third quarter like-for-like retail sales rise 6.5%, while revenue at its telecoms division Talk Talk, fell 2% |
| • Mother and baby specialist Mothercare saw its like-for-like group sales rise 4.2% in the 13 weeks to 9 January - helped partly by international sales, which jumped 49% | • Mother and baby specialist Mothercare saw its like-for-like group sales rise 4.2% in the 13 weeks to 9 January - helped partly by international sales, which jumped 49% |
| • British housebuilder Barratt Developments said total home completions fell 23.8% in the six months to 31 December, while forward sales totalled just £456m, much lower than December 2007's £1,263m figure | |
| • Car accessories and bicycles retailer Halfords saw an accelerating fall in underlying third quarter sales, down 7.8% after a 1.1% first-half fall, as demand for in-car satellite navigation systems weakened. | |
| 'Challenging' year | 'Challenging' year |
| Home Retail Group's chief executive Terry Duddy said: "Our markets continue to be significantly impacted by the sharp reduction in consumer spending. | Home Retail Group's chief executive Terry Duddy said: "Our markets continue to be significantly impacted by the sharp reduction in consumer spending. |
| "As previously indicated, we expect the trading environment for the next financial year to be extremely challenging." | "As previously indicated, we expect the trading environment for the next financial year to be extremely challenging." |
| In a statement the company said that while sales overall had fallen at Argos during the period, consumer electronics sales had risen "driven principally by video gaming". | In a statement the company said that while sales overall had fallen at Argos during the period, consumer electronics sales had risen "driven principally by video gaming". |
| DSG International said it had benefitted from the New Year sales - with sales up 2% in the two weeks to 10 January. | DSG International said it had benefitted from the New Year sales - with sales up 2% in the two weeks to 10 January. |
| Chief executive John Browett said: "The sales pattern through the period was as we anticipated, with customers waiting for the post-Christmas sales to purchase discretionary products, particularly televisions and laptops." | |
| But he warned that there was no sign of any sustained improvement in the economy. | But he warned that there was no sign of any sustained improvement in the economy. |
| "We expect 2009 to be challenging across most of our markets and are actively planning and managing the business," he said. | "We expect 2009 to be challenging across most of our markets and are actively planning and managing the business," he said. |
| The group said it was planning further cost reductions in the current year of £20m because of the trading environment, bringing total savings for the year to £95m. | The group said it was planning further cost reductions in the current year of £20m because of the trading environment, bringing total savings for the year to £95m. |