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Sainsbury's to triple the number of in-house Argos pickup stores
Sainsbury's certainly isn't dilly-dallying after completing its acquisition of Home Retail Group, owner of Argos and Habitat, last week. The supermarket already has plans for its new purchase, namely tripling the number of Argos "digital stores" housed within Sainsbury's locations. These miniature stores are primarily click-and-collect points, though they also stock thousands of items (but not the full catalogue) for instant purchase, later pickup or home delivery.
Sainsbury's is prepared to pay £1.3 billion for Argos
Sainsbury's mission to expand its non-food empire has been given a big boost after it agreed terms on a £1.3 billion bid for Argos owner Home Retail Group. With its latest proposal, the supermarket, which had an earlier offer believed to be around the £1 billion mark turned down, now has until February 23rd to decide whether it wants to make everything official.
Sainsbury's puts Argos on its shopping list
For big-name supermarkets and high-street stores, business has been tough as of late. Sainsbury's has seen its UK market share decline following the rise of discount grocery chains like Aldi and Lidl, while Argos has been squeezed by online competitors like Amazon. With profits falling, Sainsbury's has been seeking ways to reverse its fortunes, with Home Retail Group potentially offering one avenue of opportunity. The supermarket giant confirmed today that it tabled a £1 billion bid for the group -- which owns Argos, Homebase and Habitat -- back in November, but was subsequently turned down.
