Argos boss declares the stores come first
CATALOGUE retailer Argos will defy City analysts urging it to focus more on the internet and stay committed to in-store sales, says the boss of the chain’s owner, Home Retail.
Group chief executive Terry Duddy conceded trading was tough, but insisted that closing stores was not a solution.
He said that following an underlying 9.6 per cent drop in sales at Argos shops in the first quarter it had conducted extensive market research and decided to build up online business only alongside its 754 high street and out of town stores.
Our view looking forward is that we think we can grow our store estate further
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“There were no eurekas. It was a hard reflection of where we were and it tells us that we believe that actually our strategy is right,” he said. “Our view looking forward is that we think we can grow our store estate further.”