Oct 24 2012
Retailer Argos is to get a digital overhaul that will see its catalogue take a back seat and at least 75 stores closed or relocated over the next five years.
Parent company Home Retail Group said it would reduce the circulation of the traditional Argos catalogue - launched in 1973 - as it refocuses the chain as a digital-led retailer.
It also plans to trim its 739-strong store estate and move shops into shorter leases to be able to relocate as part of a plan to use stores as product pick-up points for online orders.
Home Retail said: "Stores and catalogues will remain important, but their roles will be adapted in order to support a digital offer."
It stressed that having a "strong local presence" remained important.
The news comes after a six-month review of the Argos chain to revive the business.
In half-year results, Home Retail said underlying earnings at Argos were 3% down at £3.3 million with a return to like-for-like sales growth, up 0.6% in the six months to September 1.