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Transformation plan “will drive up toy sales significantly” 75 stores will close or relocate over next five years by Dominic Sacco
ARGOS has set out a profit recovery plan that will see it focus on digital more than its traditional catalogue for toys.
As part of the retailer’s strategy, 75 Argos stores will close or be relocated over the next five years. And following its digital transformation, Argos hopes to generate £4.5 billion in sales and a single-digit profit margin by its 2018 financial year.
An Argos statement sent to
ToyNews read: “Argos is launching a transformational strategy to reinvent itself as a leading digital retailer. “The five-year plan is hugely exciting, and will drive up sales
significantly over the period. This is great news for toys, which is a core category for Argos customers today and even more so in the future.” Terry Duddy, chief executive of Argos’ parent company Home Retail Group, added: “We have concluded a comprehensive business review of Argos which highlighted a clear opportunity to transform the business through increased investment in digital technologies. “The transformation plan aims to deliver growth by repositioning Argos as a digitally-led business from a catalogue-led business, leading the market growth of digital commerce through online, mobile and tablet, and offering customers more products
with the fastest, most convenient fulfilment options. This plan provides the right approach for Argos to achieve a long-term sustainable performance and profit recovery.”
The Beano pop up shop in the works
Themed store could open in London as early as next year by Dominic Sacco
A pop up shop promoting The Beano and its Dennis the Menace character is being finalised. The Beano publisher DC Thomson and agency Start Licensing are in discussions around the concept. If all goes to plan, the store could open next year in London.
It will sell a range of clothing, gifts, stationery, books and art. Start Licensing founder Ian Downes told ToyNews: “We believe The Beano and our licensees are capable of delivering a fun retail idea
that will sit well with existing activities and create some extra fun at Christmas. “Any pop up shop would have to add to the retail mix already available, and we are hoping to achieve something that is a fun retail offer which might inspire opportunities in other retail sectors in the future.” There are plenty of other plans for The Beano and The Dandy heading into 2013. The former celebrates its 75th anniversary next July. The Beano brand will support Comic Relief in March 2013, kick off
another Golden Ticket
promotion, while series four of Dennis and Gnasher will air on TV, complete with 52 new episodes. Plus, The Beano Musical theatre show looks like it will head to the West End in 2014, courtesy of Nimax.
Downes also said he is looking to
bring The Beano to some traditional licensing areas such as party goods. The long-running comic brand
In the 26 weeks to September 1st, 2012, Argos generated £1.686 billion in sales, down slightly from last year’s £1.675 billion.
addition Golden Bear Toys, which will create a range of boys toys based on popular kids’ brand Dennis the Menace. “I think The Beano is firmly established in the licensing market as a trustworthy brand and one that has had proven success,” Downes added. Start Licensing: 020 8337 7958