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Argos sale collapses after Sainsbury’s ends talks with Chinese buyer
Sainsbury's ended talks with JD.com after the buyer sought materially revised terms, prioritizing shareholder and stakeholder interests over the proposed sale of Argos.
- On Sunday, Sainsbury's announced it had ended negotiations with JD.com regarding the possible sale of its Argos business in the UK.
- The discussions collapsed because JD.com demanded materially revised terms that Sainsbury's deemed unfavorable to shareholders and stakeholders.
- Argos, bought by Sainsbury's in 2016 for £1.1 billion, remains Britain’s second-largest general merchandise retailer with more than 1,100 collection points.
- Sainsbury's announced it is concentrating efforts on broadening Argos' product selection, upgrading its online features, and increasing its appeal to boost how often customers shop and how much they spend.
- The termination suggests Sainsbury's aims to drive Argos’ transformation internally while targeting around £1 billion retail operating profit for 2025-2026.
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14 Articles
14 Articles
UK's Sainsbury's ends talks to sell Argos to China's JD.com
British supermarket group Sainsbury's said on Sunday it has terminated talks with Chinese e-commerce giant JD.com over selling the Argos general merchandise retailer, a day after confirming discussions were underway.
·United Kingdom
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Coverage Details
Total News Sources14
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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