Argos posts £223m pre-tax loss as revenue drops to £4.1bn

Argos has posted a pre-tax loss of £223m for the year ending 1 March 2025, as it faced lower margins and tough trading conditions.

Revenue also declined to £4.1bn, from £4.22bn the previous year, as the business, owned by J Sainsbury, said trading remained challenging across core general merchandise categories, with higher operating costs weighing on margins.

The Companies House filing also stated that commodity price volatility – particularly for electricity, gas and diesel – continues to pose a risk, with the company using financial derivatives to manage exposure. Liquidity is supported by the wider Sainsbury’s group through a £1.5bn revolving credit facility.

Directors confirmed that no dividend would be paid for the year, citing financial pressures and ongoing investment priorities. The report adds that there were no political donations and no material uncertainties identified regarding the company’s ability to continue as a going concern.

Argos also reiterated its climate-related commitments, including plans to reduce greenhouse gas emissions from its own operations to net zero by 2035 along with disclosures aligned to the Task Force on Climate-related Financial Disclosures framework.

The retailer said it would continue focusing on price, convenience and availability across its stores and online channels as competition and cost pressures persist in the wider sector.