Sainsbury’s share price: Grocer sees launch of two Argos in-store outlets

on May 28, 2015
Updated: Oct 21, 2019

J Sainsbury Plc (LON:SBRY) has joined forces with Argos recently in an attempt to utilise floor space that was excess to requirements with regard to everyday operations at a number of the grocers superstores around the UK. This has led to Argos opening two new digital stores in Sainsbury’s of North Cheam and of Nantwich yesterday.

Over the summer, eight more Sainsbury’s supermarkets will welcome the Argos digital outlets at supermarkets in West Hove, Crayford, Calcot, Bognor Regis, Durham, Rustington, Drumchapel and Keighley. The new Argos stores will range in size between 1,000 and 5,000 square feet, and will offer up to 20,000 products.
According to Sainsbury’s, about half of Argos’ sales begin online but 90 percent of customers visit stores to complete purchases or pick up goods.
The two new stores are the first Argos outlets to be established in North Cheam and Nantwich.
“This partnership with Argos is one of a series of steps we are taking to ensure we continue to offer our customers a wide range of products at great value and to make their shopping more convenient,” Sainsbury’s retail & operations director Roger Burnley, said. “We are looking forward to working with Argos to ensure the best availability and shopping experience for our customers.”
In November the Sainsbury’s said there was an issue of underutilised space in its stores and announced plans to partner with other businesses in order address the problem.
Last week the retailer announced that it was also partnering up with Western Union to provide in-store global money transfer services.
The US remittance group will offer its services in 170 Sainsbury’s Bank travel money bureaus nationwide, including in major cities such as London, Leicester, Glasgow and Birmingham.
Sainsbury’s share price had edged 0.31 percent higher to 256.50p as of 09:39 BST today, outperforming the FTSE 100 blue chip benchmark which was flat. The retailer’s stock has gained about four percent year-to-date, but is not far off its all-time low of about 220p reached in late 2014.
As of 10:56 BST, Thursday, 28 May, J Sainsbury plc share price is 257.35p.

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