Sainsbury’s takeover of Argos looks to be paying off as the supermarket prepares to announce a jump in sales and profits for the catalogue retailer.
According to reports in the Telegraph, the supermarket is expected to report a 7% jump in underlying pre-tax profits for the year from £548m to around £584m in 2016, coupled with a 2% increase in sales totalling £26.4bn.
The profits margin will be dented by a one-off charge of around £62m to cover additional costs related to the Argos takeover and a 0.6% slip in like-for-like sales at its shops.
Much of Read full story ›
Source: The Drum
Industry News