Argos is one of the UK's largest non-food retail chains, with annual sales exceeding £3bn. It has more than 540 stores throughout the UK and Ireland, and approximately 95% of the GB population live within 10 miles of one of its outlets. The company was founded in 1973. By 1998 it was experiencing disappointing profits and sales. This prompted a hostile takeover by GUS plc, which now also owns Burberry and Homebase.
After the takeover, Terry Duddy became Managing Director with the challenge of improving the firm's performance. He has done this by strengthening:
- the brand
- the quality of customer service
- the corporate culture.
As a result, Argos is now the market leader (by sales volume and by sales value) in several key product categories. These include small kitchen appliances, home office, and toys.