Sainsbury's agrees £120m deal to sell Argos

Sainsbury's has announced a £120m deal to sell Argos to a private equity-backed consortium. This business as usual transaction allows the supermarket giant to concentrate on its core food business, aiming to deliver healthier margins and higher cash generations. Sainsbury's acquired the catalogue retailer a decade ago, but the sale now enables the company to prioritise its primary operations after Argos experienced long-term struggles. The move marks a strategic shift towards its core supermarket activities.