$805 $m
With decreasing financial performance since 2010, Argos has been suffering in an increasingly competitive market swamped by the likes of Amazon and other big online retailers. In response, managing director John Walden announced a five–year plan with the aim to revitalize the business for the digital era. Argos plans to engage predominantly in online or mobile sales, leaving its trademark catalog behind. In–store browsers and Wi–Fi will replace the print catalogs and pencils, modernizing the shopping experience. As a part of this plan, the brand will re–assess its store portfolio and 75 stores will be closed or relocated. One thing in the brand’s favor is that Argos pioneered the click and collect multichannel approach. Now online check and reserve represents 30 percent of total sales, according to 2012 interim results. Argos also claims to be the second most visited retailer in the U.K.