Argos online sales near £2bn

Argos has witnessed a major surge in online and mobile-app based sales, which now account for nearly half the company’s total revenue, delivering £1.9bn in the last year.
The news comes as parent Home Retail Group, which also owns Homebase, revealed major progress in its multi-channel retail strategy as part of annual results.
The group said it would “continue to develop an integrated shopping experience that encompasses the latest technology” for Internet and mobile channels.
Terry Duddy, chief executive at Home Retail Group, said: “Our focus on operational excellence and further investment in our multi-channel leadership has delivered a solid performance and enabled us to gain or hold market share in our businesses.”
Argos claims it is now the second largest online retailer in the UK, behind Amazon, with 400 million website visits in the past year. During May 2010, Argos launched its iPhone app, which, to date, has seen more than 1.3 million downloads.
The company said it is also planning to launch a TV shopping channel on Sky this summer called “Argos TV”, and mobile apps for the iPad and the Android mobile operating system in time for Christmas.
On the financial front, sales in the year to 26 February 2011 fell by 3.5 per cent, with operating profit slumping to £219m, an 18 per cent decline on the previous year.

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