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24 October 2012, 12:35
Argos have announced plans to shut around 50 of their shops as the Milton Keynes based catalogue retailer set about focussing more on online shopping.
Around 25 other stores will be relocated as the firm try to restructure their business. They reported a 37% fall in profits for the first half of 2012.
Home Retail Group, who own Argos, say they plan to keep a good spread of stores across the country as they embark on their process of store closures. They want to make it really easy for people to select products on the internet and collect just a couple of hours later in-store.
Terry Duddy, Chief Executive of Home Retail Group, said: "The transformation plan aims to deliver growth by repositioning Argos as a digitally-led business from a catalogue-led business, leading the market growth of digital commerce through online, mobile and tablet, and offering customers more products with the fastest, most convenient fulfilment options. This plan provides the right approach for Argos to achieve a long-term sustainable performance and profit recovery."