Argos planning to close stores

Argos says it plans to close or relocate up to 75 stores over the next five years.

It is not yet known whether the company's Irish operations are affected.

Parent company Home Retail Group wants to reduce the circulation of its traditional catalogue and invest more in its online business.

Home Retail said: “Stores and catalogues will remain important, but their roles will be adapted in order to support a digital offer.”

It stressed that having a “strong local presence” remained important.

The news comes after a six-month review of the Argos chain to revive the business.

In half-year results also announced today, Home Retail said underlying earnings at Argos were 3% down at £3.3m (€4m) with a return to like-for-like sales growth, up 0.6% in the six months to September 1.