Argos reveals best Christmas performance for more than 10 years

Argos revealed its best Christmas performance for more than 10 years after making further progress in its plan to become a digital-led retailer

Argos
Argos

Argos revealed its best Christmas performance for more than 10 years after making further progress in its plan to become a digital-led retailer with nearly half of sales made online.

Another strong Christmas for tablet computers and the recent launch of Microsoft’s Xbox One and Sony’s PlayStation 4 games consoles helped like-for-like sales jump 3.8% in the 18 weeks to January 4.

It said 46% of all sales were made over the internet, boosted by its popular check and reserve service allowing shoppers to collect items in store as well as a surge in the use of smartphones and tablets - accounting for a fifth of all sales.

Argos owner Home Retail Group upped its full-year forecasts after the robust third quarter, with pre-tax profits now expected towards the top of City expectations for between £90 million and £109 million.

Bosses at the group are leading a makeover of the chain, scaling back its print version of the catalogue as it introduces more digital versions, while it is also closing or relocating at least 75 stores over the next five years.

Its parent firm Home Retail, which also owns Homebase, today revealed that Argos managing director John Walden will succeed Terry Duddy at the helm from March 14.

Mr Duddy announced his plans to step down after 15 years in the role last September.

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