Retail news
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Store closures loom closer as Argos profits slide
- Posted:
- 02 May 2012 10:33
Argos' parent company revealed a massive slide in profits today and left the door open for as many as 230 store closures in the future. Home Retail Group (HRG) scrapped its final dividend following the announcement that the 748-strong chain suffered a 9% drop in like-for-like sales and a near ...read more
Argos boss launches business review
- Posted:
- 01 May 2012 10:13
The new managing director of Argos has launched a review of the chain, according to Sky News, fuelling fears of forthcoming store closures.John Walden, who joined Argos in February, has drafted in OC&C Strategy Consulting to assist the review.Some analysts expect Argos to close many of its 748 stores after ...read more
HRG profits slide
- Posted:
- 16 March 2012 09:57
Home Retail Group, which operates the Argos and Homebase chains, has said that it has no plans for major store closures today despite another slump in sales at the catalogue chain.Argos, which currently has 748 stores, said like-for-like sales declined 8.5% in the eight weeks to February 25th, driven by ...read more
Electrical retailers to overhaul warranty system
- Posted:
- 07 February 2012 09:50
UK electrical retailers are to overhaul their £1 billion-a-year sales of extended warranties in order to avoid the attention of the Office of Fair Trading (OFT) and the threat of a major competition inquiry.Dixons, Comet and Argos - the largest providers of such warranties - will set up a price ...read more
Argos appoints new boss
- Posted:
- 02 February 2012 09:48
American businessman John Walden, who has held senior positions at BestBuy and department store Sears has taken on the task of reviving catalogue chain Argos.Mr Walden, whose retail career began in the 1990s when he was chief operating officer at internet grocery operation Peapod, will bring a "valuable, fresh perspective" ...read more
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