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Argos brings in US expert

An American who has held senior positions at BestBuy and department store Sears was handed the task of reviving catalogue chain Argos today.

An American who has held senior positions at BestBuy and department store Sears was handed the task of reviving catalogue chain Argos today.

John Walden, whose retail career began in the 1990s when he was number two at internet grocery operation Peapod, will bring a "valuable, fresh perspective" to Argos, according to its owner Home Retail Group.

Argos has suffered falling sales since 2008 and most recently blamed the weak consumer electronics market for an 8.8% drop in like-for-like revenues over its Christmas quarter. It barely made a profit in the half year to August.

The business, which sells products through 750 stores as well as online and through a television channel, made sales of £4.2bn in the year to February.

Mr Walden joins the company at the end of this month, having left his previous job as chief executive of Activeion, which makes environmentally-friendly cleaning products, last year.

He spent a year as chief customer officer at Sears after eight years at Best Buy, where he ran the electrical retailer’s internet operation.

Home Retail chief executive Terry Duddy said Mr Walden brought a wealth of multi-channel retail and technology related business experience.

He added: "We look forward to John bringing a valuable, fresh perspective to the future development of Argos."

 

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