Sainsbury’s takes axe to more Argos branches
Sainsburys is to close as many as 70 Argos stores, replacing them with space inside its supermarkets.
The group said the closures were part of a reorganisation of its store portfolio that will see up to 15 supermarkets and 40 convenience stores closed while 10 new supermarkets and 100 convenience stores will open.
10 of these convenience branches will have space for an Argos.
Mike Coupe, Sainsbury’s chief executive says the reorganisation is part of package of £500m of cost cuts. ‘Argos continued to grow market share in key categories, but sales were impacted by reduced promotional activity,’ he adds.