The Telegraph has reported that analysts are urging Argos chief exec to act on his plans to close a number of the retailer's 700 stores.

Philip Dorgan, an analyst at Panmure Gordon referred to Walden's claims that he had been given a blank sheet on Argos and said: "We think that he needs to start writing a list of store closures on it."

He continued: "While it may be true that Argos has few stores that don’t make a contribution to overhead, this does not mean that this will perpetuate in an online world, with both Tesco and Amazon continuing to invest substantially."

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