Sainsbury's pushes ahead with cut-price sale of Argos to streamline business
SAINSBURY’S has lifted its profits outlook — as it announced its cut-price sale of Argos is set to go ahead in February next year.
TL;DR
- Sainsbury's to sell Argos for at least £120 million in February, aiming for a simpler, food-focused business.
- Sainsbury's raised its annual profit forecast after adjusting for the Argos sale.
- Grocery sales increased, but general merchandise sales, including clothing, fell.
- Heathrow issued a £200 million dividend despite lower profits and passenger numbers, and is consulting on expansion.
- Barclays expects to cut approximately 5,000 jobs this year due to technological advancements.
- Betting firms warn that a doubling of Machine Games Duty could threaten 16,000 jobs and 1,500 shops.