Our initial estimates suggest that Argos is likely to make a small operating loss in the first-half. This is certainly not conducive to more positive sentiment and the debate on its weak performance... will not therefore abate.
PHILIP DORGAN | PANMURE GORDON
It looks likely that group profits will fall for the next two years and it is becoming increasingly stretching to see any short term upside for the shares. We find it increasingly difficult to see a quick path to recovery for Argos.
KEITH BOWMAN | HARGREAVES LANSDOWN
The update is no worse than expected. The decline in sales at Argos has slowed compared to the previous quarter, whilst changes in the sales mix have helped to limit the damage on the profit margin.