REG - Sainsbury(J) PLC - Termination of discussions with JD.com

J SainsburyAnnouncement

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RNS Number : 2437Z  Sainsbury(J) PLC  15 September 2025

15 September 2025

 

 

Termination of discussions with JD.com

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Following the media speculation on 13 September regarding discussions between
J Sainsbury plc ("Sainsbury's") and JD.com, Inc. ("JD.com") about a
potential sale of Home Retail Group Limited ("Argos"), JD.com has
communicated that it would now only be prepared to engage on a materially
revised set of terms and commitments which are not in the best interests of
Sainsbury's shareholders, colleagues and broader stakeholders. Accordingly,
Sainsbury's confirms that it has now terminated discussions with JD.com.

Argos is the UK's second largest general merchandise retailer, with the third
most visited retail website in the UK and over 1,100 collection points.
Sainsbury's is committed to delivering the strongest and most successful
future for Argos customers and colleagues and our 'More Argos, more often'
transformation strategy is delivering good progress. We are taking focused
action to extend range, enhance digital capabilities and improve relevance to
grow frequency and spend in Argos whilst delivering further operating model
efficiencies. Argos has traded in line with expectations over the summer,
helped by good weather, with H1 sales and profitability stronger against a
period last year when Q2 sales were boosted by clearance activity.

Sainsbury's continues to have strong momentum and is focused on delivering its
Next Level strategy and commitments. We continue to expect to deliver Retail
underlying operating profit of around £1billion and Retail free cash flow of
more than £500million in the financial year 2025/26.

 Enquiries

 Investor Relations      Media
 James Collins           Rebecca Reilly
 +44 (0) 7801 813 074    +44 (0) 20 7695 7295

The person responsible for arranging the release of this announcement on
behalf of the Company is Nick Grant, Group General Counsel and Company
Secretary.

LEI: 213800VGZAAJIKJ9Y484.

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