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Argos store closure threat as Argos profits slide

Argos has suffered a slide in profits, threatening some stores with closure. Home Retail Group, which owns the chain, says 230 store leases are due for renewal in the next five years. They could be put up for relocation or shut down.

  • Home Retail has scrapped its final dividend
  • Suffered a 9% drop in like-for-like sales
  • 60% plunge in operating profits £94.2 million