Home Retail Group has reported a year of flat sales and reduced profits, but owned multi-channel retailer Argos has had a better year.
The company also announced a 'transformation plan' to reinvent Argos as a digital retail leader and reposition it from a catalogue-led to a digitally-led business.
The firm's strategy (it cut store numbers last year, in part to focus on the digital side), is already working – Argos’ multi-channel sales penetration increased to 51 per cent of total sales. Internet sales grew 10 per cent to reach 42 per cent of Argos’ total sales. Argos’ website and app visits increased by 24 per cent with mobile shopping now representing 10 per cent of total sales.
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