Retail in Asia

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Home Retail first-quarter sales worsen, led by Argos

Home Retail Group plc, the UK owner of Argos catalogue stores and the Homebase home-improvement chain, said sales worsened in the first quarter as consumers pared spending on video games and televisions.

Revenue at Argos outlets open at least a year declined 8.1 percent in the 13 weeks through 29 May, the home retailer said today, compared with a 2.2 percent drop in last year’s second half. Same-store sales at Homebase fell 1.4 percent, after rising 2.6 percent in the second half.