Sainsbury ended the discussion with the Chinese Retail Giant for Argos Sales

Sunday 14 September 2025 16:48

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Sainsbury has ended the discussion with the Chinese Retail Giant JD.com for Argos’ sales just a day after the rumor about the agreement was revealed.

British Gocer said that the proposed agreement with JD.com was “not for the best interests of Sainsbury” and then ended the discussion, he said on September 14.

“JD.com has communicated that now it will only be ready to be involved in a series of material requirements and commitments that are materially revised that are not for the best interests of Sainsbury shareholders, colleagues, and wider stakeholders,” the grocery store explained.

On September 13, JD.com retailers said transactions with nasdaq registered JD.com could accelerate the transformation of Argos, by providing an increase in technology and logistics experience.

JD.com is the largest retailer in China with 600 million annual active customers.

Sainsbury bought Argos at a price of more than £ 1 billion less than a decade ago, and is now the second largest general public merchandise retailer in the UK, behind Tesco, with the third most visited retail site in the UK.

It maintains nearly 200 standing shops-with a kiosk where customers are used to reading their famous catalogs and more than 1,100 gathering points, mostly in the Sainsbury store.

Argos has traded “in line with the expectations” during the summer, assisted by good weather, with sales in the first half of this year and profitability is stronger in the period of last year when the second quarter sales were driven by permission activities, said Sainsbury.

This reported a revenue of $ 158.8 billion (£ 128.5 billion) in the 2024 financial year, and a revenue of $ 91.8 billion in the first half of 2025.

The retailer was traded on $ 33.67 after the market was closed on Friday.

Sainsbury said “continues to have a strong momentum and focus on providing strategies and next level commitment”.

“We continue to hope to provide an operating profit that underlies retail around £ 1 billion and retail -free cash flows of more than £ 500 million in the 2025/26 financial year,” the company added.