A store in Bury St Edmunds could be among 75 nationwide set to close or relocate within the next five years.
Following the completion of a business review, Argos has revealed a need to restore sustainable growth by reinventing itself as a digital retail leader.
Home Retail Group, which owns Argos, released details of the transformation plans with its six month results on Wednesday.
They include increasing its product range, developing a universal appeal and having a greater online presence.
It also plans to reduce its cost base by closing or relocating at least 75 Argos stores, based on factors such as profitability, attractiveness of location and complexity of operations, as their leases come to an end over the next five years.
An Argos spokeswoman said: “We can not at this stage give details of individual stores which may be affected by this because it will depend on lease negotiations at the time.”