Argos 蓄える／店s under 終結 脅し as 利益（をあげる）s dive at 病んでいる chain

By This Is Money Reporter

Updated: 10:33 BST, 2 May 2012

The 脅し of 終結 is hanging over hundreds of Argos 蓄える／店s after poor sales led to 急落（する），激減（する）ing 利益（をあげる）s at the c atalogue chain.

Signalling another blow for the High Street, owner Home 小売 Group said around 230 Argos shop 賃貸し（する）s would come up for 再開 in the next five years - meaning they could be put up for 移転 or 終結.

New Argos managing director John Walden has 報道によれば 雇うd OC&C 戦略 協議するing to help carry out a root and 支店 review of the struggling 商売／仕事, fuelling 憶測 there will be 普及した 蓄える／店 終結s in the 748-strong chain.

貿易（する）ing trouble: Argos has seen a 落ちる in 消費者 electronics sales, 特に televisions and ビデオ games

A 拒絶する／低下する in 消費者 electronics sales at Argos, 特に televisions and ビデオ games, was 責任がある much of a 9 per cent 拒絶する／低下する in like- for-like sales in the year to February 25. However, the chain continued to see growth in sales of laptops and tablets, such as Apple's iPad.

Operating 利益（をあげる） was £94.2million, 負かす／撃墜する 57 per cent on the previous year.

Argos 現在／一般に 推定する／予想するs to の近くに around 10 蓄える／店s in the 現在の 財政上の year, while some 200 蓄える／店s were 改造するd last year and the group 計画（する）s to 圧力（をかける） ahead with its refurbishment programme.

But in another 調印する that Argos is looking to 転換 焦点（を合わせる） from 蓄える／店s to the internet, Home 小売 said the chain would continue to develop its online and 動きやすい 申し込む／申し出ing, 含むing a refreshed website ahead of Christmas.

The group said multi-channel sales now （不足などを）補う 48 per cent of total sales, with 39 per cent from online, while total sales from 動きやすい shopping were around 6 per cent.

Home 小売's DIY chain Homebase, which has 341 蓄える／店s, saw its like-for-like sales 減少（する） 2 per cent in the past 財政上の year, while operating 利益（をあげる）s 急落（する），激減（する）d 50 per cent to £22.8million.

Big ticket sales such as new kitchens and bathrooms fell at Homebase as hard-up 消費者s reined in spending.

Home 小売 saw its 全体にわたる 年次の pre-税金 利益（をあげる） slide more than 60 per cent to £90.2million.

It 削除するd the total 年次の （株主への）配当 by 68 per cent to 4.7p. 株 in Home 小売 were 負かす／撃墜する 3 per cent or 3.45p at 97.55p in 早期に morning 貿易（する）ing.

見解（をとる） from the City

Richard Cathcart of 投資 bank Espirito Santo said Home 小売 was flagging that many 蓄える／店s have 賃貸し（する） 再開s or break 条項s in the next five years, which will give 柔軟性 to adapt the 蓄える／店 大臣の地位.

But he said its 声明 also 公式文書，認めるd that the 蓄える／店 base was '批判的な' to the multi-channel 申し込む／申し出, and that 90 per cent of Argos sales 伴う／関わる a 蓄える／店 in one way or another

'It is difficult to see how large 規模 蓄える／店 終結s support 管理／経営’s 現在の 戦略,' he said.

And he 追加するd: 'The 見通し 声明 is 大部分は as 推定する／予想するd, with uncertain 貿易（する）ing prospects 主要な 管理／経営 to 計画（する） 慎重に for the year ahead.

'There is little in this 声明 to change our 根底となる 見解（をとる） on the 在庫／株 ? Argos 直面するs both cyclical and 構造上の 圧力s and whilst the former may begin to 緩和する, we think a 解答 to the latter is yet to be 現在のd.'

仲買人 Oriel 安全s said that 48 per cent of Argos sales are now online, but 管理／経営 現在／一般に 推定する／予想する to の近くに just 10 蓄える／店s as they still think that it needs the 広い地所 to support the online proposition.

'The 株式市場’s 失望／欲求不満 with 管理／経営 is likely to 強める and we hope that new managing director John Walden will produce a more 過激な re-structuring of the 広い地所 in 予定 course.'

資産 経営者／支配人 Investec said: 'We remain 消極的な on the 在庫／株, given our 恐れるs that Argos is 苦しむing from 構造上の 圧力s, which will be difficult to 相殺する ? 特に in the absence of a meaningful 消費者 回復.'

在庫／株 傾向: Home 小売 株 have taken a 乱打するing over the past year