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75 Argos stores closure threat

Argos is to close or relocate 75 stores across the UK over the next five years under plans to "reinvent" the business in online retail. The firm's parent company reported a 37% fall in half-yearly pre-tax profits.

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Argos admits need for 'digital repositioning' as profits down 37%

Retailer Argos admits it needs to 'reposition for a digital future' after posting disappointing results:

  • Benchmark profit before tax down 37 percent to £18 million
  • Earnings per share down 44 percent to 1.4p

Its management plans to invest around £100 million per year in the business over the next three financial years.

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