We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
78,230 News Articles

Argos stores to be closed to boost online sales

Home Retail Group strengthens web-based operations

Home Retail Group, the owner of the Argos and Homebase retail chains, is cutting the number of its stores as part of its plan to boost online sales.

The company said it was closing or relocating 75 Argos outlets and reducing its reliance on the Argos printed catalogue to generate sales. The move came after the group posted almost a 40 percent fall in first half pre-tax profits.

Terry Duddy, chief executive of Home Retail Group, said, "The plan will re-invent Argos as a digital retailing leader. The transformation plan is ambitious but achievable."

The company is investing £100 million annually for the next three years into transforming the Argos business, in a move overseen by Argos' new managing director John Walden, who was previously at US retailers Best Buy and Sears.

Argos currently has 750 stores and some will now close as their leases expire. Walden said, "Our catalogue represents a big part of our business so it would be foolish for us to pull it. But the trend towards digital is pretty obvious. The catalogue will evolve, not disappear."

Sales also fell at Homebase for the six months ending 1 September, with a 6.2 percent like-for-like dip.

In June Argos said that its multi-channel sales, including online, represented 51 percent (£418 million) of its total sales, up five percent on the previous year.

In April Home Retail Group inked a four year deal with Atos to implement a business account scheme, in which small and medium sized businesses can purchase goods and services in-store, online and via Argos Direct.


IDG UK Sites

OnePlus Two release date rumours: Something's happening on 22 July

IDG UK Sites

13in MacBook Air review, Apple's MacBook Air 2014 reviewed

IDG UK Sites

5 reasons to buy an electric car and 5 reasons not to

IDG UK Sites

Evernote Skitch: the best way for creatives to doodle feedback