Terry Duddy, Chief Executive of Home Retail Group, outlined the plans for a new-look Argos business:
We have also concluded a comprehensive business review of Argos which highlighted a clear opportunity to transform the business through increased investment in digital technologies.
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.
More top news
Thirty facts about Prince Harry to celebrate his coming of age.
Django Unchained actress Danièle Watts was handcuffed by police after she was seen "showing affection" to her partner, NBC News reported.
A US news anchor has told viewers he only has four to six months to live on air, after he was informed that his brain tumour was inoperable.