Home Retail Group’s change in strategy means that at least 75 stores across the UK will need to close or relocate. Argos has been struggling to bring in enough money and updating its digital presence online is imperative to modernise, cut costs and turn around profit downfall.
The company added that seven stores lost money, although on average each store made just £172 a week in the six months to September.
New Media Trend Watch says:
“The UK is one of the most internet-based economies in the world according to researchers at the Boston Consulting Group (BCG). Worth £121 billion in 2010, it contributes to 8.3% of the UK economy, growing at a faster rate than other countries.”
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