Great Universal Stores Plc., the U.K. direct marketer and retailer, plans to merge its home shopping unit with the Argos catalog-shop chain, eliminating 800 jobs, to cut costs, according to wire service reports.
GUS is scaling back its home shopping division, which has lost market share to discount retailers to focus on increasing sales under the Argos brand name. The company expects to save 80 million pounds a year over the next three years from combining the two businesses
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