Argos’ digital makeover paying off
Its owner Home Retail Group, which recently launched a digital makeover of the high street business, now expects full-year profits to be ahead of City forecasts.
Argos sales jumped by 4.3 per cent to £501m in the eight weeks to March 2 and were up by 5.2 per cent on a like-for-like basis, despite weaker trading in homewares.
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Hide AdHome Retail, which also owns Homebase, announced plans in October to scale back circulation of its Argos catalogue and revitalise the business through its digital presence.
Its 700-plus stores have been kitted out with internet access and Wi-Fi, with a fast-track collection service and customer service for orders.
Internet sales now account for 43 per cent of Argos’ total revenues, up from 40 per cent a year ago, as more shoppers take advantage of the chain’s new tablet and smartphone apps, as well as click and collect services.