Argos cuts prices for catalogue launch

Argos squared up to its new rivals in the home retail market today by cutting the price of 3,000 products in its latest catalogue.

The move comes amid increased competition, following the publication of the “Big Red Book” by Woolworths and the entry of Tesco this year.

Argos, which estimates that two-thirds of households in the UK have one of its catalogues, will publish its 1,688 page spring/summer book at the weekend.

Sara Weller, Argos managing director, said: “With over 3,000 price cuts, this catalogue has had more prices slashed in it than any previous catalogue within the past three years.”

Argos is part of the Home Retail Group, which demerged from parent company GUS in October last year.

The chain operates out of 680 stores in the UK and Ireland but expects to open a further 30 a year until it reaches the overall target of 800 sites.

Last year, analysts predicted Argos would overtake MFI to become the UK’s biggest furniture retailer after an aggressive move into the market.