We're on Google+
Search
Tag Cloud
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Argos poised to kick off brand overhaul Monday, 22nd October 2012
Image courtesy of Home Retail Group
Argos is preparing to accelerate the rate of store closures, bolster its online presence and increase prices as part of a thorough brand overhaul next week, according to the Financial Times.
John Walden, managing director of Argos, is expected to reveal the findings of his strategic review on Wednesday.
Philip Dorgan, analyst at Panmure Gordon, has also suggested that the catalogue retailer has too many stores and needs to embark upon a thorough store closure programme. Dorgan said: “Because Home Retail has cash of around £200 million, it is under no immediate financial pressure. This also means that Argos could trade at a loss for some time,' he points out. 'This is the good news, but it is not enough for us to buy the shares, nor is a less-bad-than-feared second-quarter.
“Both of its operating companies still have fragile profits and losses and we think that Argos requires significant store closure, major cost reduction and brand repositioning. We believe that the risks therefore remain very much on the downside.”
Store closure numbers are expected to increase from 50 over the next five years to almost 100.
Related Stories
Posted in Retail Industry, Retail Property Tagged Argos, Home Retail Group, Retail Property, Home & DIY, Home & Design, General Merchandise, my, retail, media, news, John Walden
