Sainsbury’s has agreed to sell Argos to Swift Partners for at least £120 million. The deal includes at least £70 million paid on completion and a further £50 million over three years, plus proceeds from an Argos distribution centre. Sainsbury’s said the transaction will reduce lease-adjusted net debt by about £250 million and result in a non-cash impairment charge of around £350 million. The sale covers Argos standalone stores, in-store concessions, online retail, logistics, and sourcing offices, with Swift assuming the property leases. Sainsbury’s expects underlying operating profit to remain broadly unchanged and reaffirmed its 2026/2027 guidance of total underlying operating profit between £975 million and £1.07 billion.
J Sainsbury PLCSale of Argos results in a £350m non-cash impairment charge and reduces net debt by £250m, but underlying profit guidance is reaffirmed.
Swift Partners acquires Argos for at least £120m, expanding its retail portfolio.