The latest announcement is out from J Sainsbury plc ( (GB:SBRY) ).
J Sainsbury plc has completed the sale of its Argos Financial Services store card portfolio to NewDay Group, following the latter’s acquisition of the necessary financing and antitrust approvals. This transaction is expected to enable Sainsbury’s Bank to return at least £250 million in excess capital to Sainsbury’s, which the company plans to distribute to its shareholders. The transition of legal title and servicing responsibilities to NewDay is anticipated to occur in Q1 2026, with no immediate changes required for existing customers.
More about J Sainsbury plc
J Sainsbury plc operates in the retail industry, primarily offering groceries, general merchandise, and financial services through its subsidiaries, including Sainsbury’s Bank. The company focuses on providing a wide range of products and services to its customers in the UK market.
YTD Price Performance: -5.48%
Average Trading Volume: 6,092,285
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £5.97B
See more data about SBRY stock on TipRanks’ Stock Analysis page.