Home Retail Group said it has appointed a former Best Buy executive to be the new boss of its struggling Argos business.

The firm today named John Walden as managing director of the 759-store Argos chain, reporting to group chief executive Terry Duddy.

Mr Walden, who was at top US electricals retailer Best Buy between 1999 and 2007 before moving to Sears, will take up his new role by the end of February.

"We look forward to John bringing a valuable, fresh perspective to the future development of Argos," said Mr Duddy.

Last month Argos posted an 8.8 per cent fall in third-quarter underlying sales.

Reuters