UK's Sainsbury jumps on Argos divestment deal

J Sainsbury

31/07/2026 08:22

** Shares of British supermarket chain Sainsbury SBRY.L jump 3.6% at 369.4p
** Stock among top gainer on FTSE 100 .FTSE 
** Agrees to sell its digital retailing business Argos to Swift Partners for at least £120 million ($161.48 million)
** Expects deal to be accretive to underlying earnings per share
** Maintains FY27 underlying operating profit and retail free cash flow guidance
** YTD, the stock is up ~10%, including session's move

($1 = 0.7431 pounds)

 (Reporting by Krisha Bhatt in Bengaluru)
 ((Krisha.Bhatt@thomsonreuters.com;))