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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/argos-owner-profits-hopes-intact.jpg"><img class="alignnone size-full" title="The owner of Argos said its profits hopes remain intact after a challenging pre-Christmas period" src="http://londonglossy.com/wp-content/uploads/2011/01/min-argos-owner-profits-hopes-intact.jpg" alt="The owner of Argos said its profits hopes remain intact after a challenging pre-Christmas period"/></a></p>
<p>The owner of the Argos chain has said its profits hopes remain intact after strong demand for laptops and toys helped it overcome &#8220;some particularly challenging and volatile&#8221; conditions in the run-up to Christmas.</p>
<p>Home Retail Group, which also owns DIY retailer Homebase, said Argos racked up sales of £1.86 billion in the 18 weeks to January 1, a fall of 3.2% and down 4.9% on a like-for-like basis on the same period a year earlier.</p>
<p>However, this same-store figure was better than the rate of 6. 5% reported in October and chief executive Terry Duddy said the high street chain had performed in line with original expectations for the festive period.</p>
<p>He added that profits for the year to February were set to be around the mid-point of its previously guided range of £250 million to £275 million.</p>
<p>Total sales at Homebase, which is less focused on Christmas demand, declined by 2.8% to £487 million, while like-for-like sales dropped by 1.2% even though sales of big-ticket items benefited from business ahead of January&#8217;s VAT rise.</p>
<p>The toughest market for Argos was in video gaming, while television sales were also down against a strong performance last year.</p>
<p>The jewellery category was also weak but Argos saw an &#8220;excellent&#8221; performance in laptops and tablet computers, as well as further growth in white goods and toys.</p>
<p>The internet represented more than £700 million or 38% of Argos sales, up from 35% a year earlier, as more shoppers took advantage of online reservations and the Argos application for Apple iPhone devices.</p>
<p>Investec Securities said the third quarter update was better than feared and implied a 4% upgrade in its profit forecast for the year.</p>
<p>Argos operates from 754 stores, while Homebase has 341 locations after reducing the portfolio by four outlets in the quarter.</p>
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