British retail group plans to overhaul Argos chain into online pickup points
October 25, 2012, 11:39 am TWN
LONDON -- Home Retail Group said on Wednesday it would close or relocate at least 75 of its Argos stores across Britain over the next five years to create a digital retailer of household consumer goods.
Warning of "fragile" trading conditions, HRG said the bulk of its 739 Argos stores selling items ranging from televisions to beds, computers, toys and jewelry would also be converted into pick-up points for orders made online.
Home Retail Group also revealed on Wednesday that its net profits soared by almost 80 percent to 36.5 million pounds in the six months to Sept. 1.