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Is Argos expecting a poor Christmas?

There is speculation regarding the health of the UK economy and the potential for a double dip recession but in all honesty nobody is any the wiser regarding the short to medium term outlook. However, those on the UK high street have today expressed concern that Argos, one of the leaders in the UK retail market, has today revealed that seasonal recruitment for the Christmas period is down 40% on last year.

While many will dismiss this fact as a cautious approach ahead of the festive period there is no doubt that Argos more than any other retailer in the UK has its "finger on the pulse". This is a company which sells essentials and non-essentials to millions of people in the UK and is able to predict with confidence the short term trends in the UK retail market. It does seem almost inevitable that a number of retail outlets will go "under" during and after the festive period and today's news from Argos is just another reminder of the dreadful climate in the UK retail market.

When you also take into account the fact that VAT will increase to 20% from January 2011 there is not much for the UK retail market to cheer about.

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