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2290 Words May 6th, 2013 10 Pages
REVIEW OF THE BUSINESS

Argos business review —— As the UK’s leading multi­ channel retailer, Argos provides a highly successful and unique offer of choice, value and convenience.
Operational review Multi-channel leadership Multi-channel sales have continued to grow and now represent £1.9bn or 46% of Argos’ total sales. Internet orders represent 36% of Argos’ total sales, up from 32% last year, with the remaining 10% of multi-channel sales being products ordered either in-store or by telephone for home delivery. Argos continues to be the second largest internet retailer in the UK, with 400 million website visits during the year. The Spring/Summer 2011 catalogue launch was the first to fully integrate social media into the multi-channel
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‘Voice put-away’ will also enable stores to choose stock locations dynamically and thereby maximise utilisation of available stockroom space. Store refurbishment programme Following the successful brand relaunch with the Spring/Summer 2010 catalogue, the programme to refurbish the store estate is progressing well. Around 150 stores had been refurbished by 26 February 2011, with a further 200 expected to be refurbished in the 2011/12 financial year. As well as reflecting the new brand identity, the store refurbishment programme provides significant improvements to the Argos shopping process and to product displays such as consumer electronics and jewellery. There are also improved versions of catalogue browsers, stock checker units, kiosks and call forward systems. Customers’ response to the refurbished stores has been very positive and this is contributing to the overall improvements in Argos’ brand reputation. The financial performance of the refurbished stores is also encouraging with the average sales uplift being 2.5%, which is ahead of the business case sales uplift requirement of 1%. Refurbishment costs are averaging approximately £100k per store and therefore the previously announced £70m cost to complete the programme is on track. Expanding choice With 23,300 lines, the Spring/Summer 2011 catalogue has increased the choice, compared to a year ago, by around 4,000

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