Web revenues top 20 per cent of quarterly take
Published: 11 September 2008 15:46 GMT
Despite stagnant sales at its bricks and mortar stores, retailer Argos is seeing strong growth in its online sales.
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Total sales at Argos for the 13 weeks ending 30 August fell by 1.6 per cent quarter-on-quarter to £927m. Like-for-like sales, which don't include sales at new outlets opened during the quarter, were down by 5.8 per cent.
However, the retailer said Argos's online 'check and reserve' orders for immediate store collection grew by over 40 per cent, making up 13 per cent of total sales, while a further nine per cent of sales were made in internet orders for home delivery.
Argos's parent company Home Retail Group said: "While growth remained positive in consumer electronics, it was at a lower rate than the previous quarter. Furniture and homewares continued to show declining sales in challenging market conditions."
Argos' figures are in line with current trends reflected in the IMRG CapGemini e-retail index, which predicts online consumer spending will peak at 50 per cent of total retail sales in the UK in five years' time.
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