Argos has confirmed closures of more of its standalone stores, reducing its high street footprint as concessions inside Sainsbury’s are developed.
The latest wave of closures is set to begin next month and follows 37 Argos stores ceasing trading this year, including 34 in the Republic of Ireland last month. Argos is yet to confirm the location of the store closures as the retailer moves away from a high street presence and expands the number of concessions inside Sainsbury’s branches.
30 Argos concessions are planned inside Sainsbury’s branches for the current financial year ending March 2024, however this will leave a substantial number of Argos locations – 70 in total – without a direct replacement.
In its latest financial results, Argos reported that more sales were made via its branches inside Sainsbury’s supermarkets than standalone stores for the first time last year. The company expects to have just 180 standalone stores and between 430 and 460 Argos stores inside Sainsbury’s by March 2024.
Speaking to The Sun, an Argos spokesperson commented: “To make shopping more convenient for customers and to enable us to invest where it matters most, we are relocating many of our standalone Argos stores to Sainsbury’s, enabling customers to purchase thousands of technology, home and toy products from Argos while picking up their groceries.”
Locations in Cardiff and Newport will be the next to go, alongside branches in Hull, Grimsby and Scunthorpe, according to The Sun.