Sainsbury’s blames ‘significant headwinds’ for drop in Argos sales at Christmas

Online competition and weak consumer confidence behind fall, although sales at group’s supermarkets roseBusiness live – latest updatesSainsbury’s has blamed “significant headwinds” from weak consumer confidence, heavy online competition and widespread discounting for a fall in sales at its Argos chain over the all-important Christmas quarter.The UK’s second-largest grocer said its supermarkets increased sales by 3.4% at established stores in the three months to 3 January but Argos sales fell 1% in the period. Continue reading…