tiprankstipranks
Sainsbury’s Sells Argos Credit Portfolio, Forms New Partnership
Company Announcements

Sainsbury’s Sells Argos Credit Portfolio, Forms New Partnership

J Sainsbury plc (GB:SBRY) has released an update.

Don't Miss our Black Friday Offers:

J Sainsbury PLC has announced the sale of its Argos Financial Services cards portfolio to NewDay Group for approximately £720 million, as part of a strategy to focus on its core retail business. This move also includes a partnership with NewDay to develop a new digital credit offering for Argos customers, enhancing their purchasing flexibility. The transaction is expected to contribute to sustainable annual financial services income for Sainsbury’s, aligning with its broader financial restructuring efforts.

For further insights into GB:SBRY stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyJ Sainsbury initiated with an Outperform at RBC Capital
TipRanks UK Auto-Generated NewsdeskBlackRock Increases Stake in J Sainsbury plc
TipRanks UK Auto-Generated NewsdeskBlackRock Boosts Stake in J Sainsbury plc
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App