Marketing, E-commerce and Digital Design, Product Management, Brand Development, Design, Advertising and Consultancy

Sainsbury's reaping the rewards of Argos takeover as it begins to see growth

on Apr 30, 2017 | 0 comments

By Tony Connelly

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