Argos has delivered its first year of like-for-like sales
growth for five years, supported by a solid multichannel performance and growth
in a number of categories, including notably, consumer electronics. Overall,
Argos grew sales to £3.93 billion in the year to 2nd March, a like-for-like
increase of 2.1 percent. Benchmark operating profit was up 6 percent to £100
million. As part of its plans to further grow its multichannel offering, Argos
is planning to develop a digital catalogue, which will launch in time for the
Christmas 2013 season. A number of store trials are also planned for the new
financial year that include web-based browsers replacing catalogues in-store;
Wi-fi to enable customers to use their smartphones and tablets in stores, and a
fast-track collection service for goods purchased online or via a mobile
device. In related news, Argos has confirmed its TV channel will cease
broadcasting this month.
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