29th Jan 2015 09:22
LONDON (Alliance News) - Home Retail Group PLC said Thursday that its general merchandise business Argos has teamed up with supermarket chain J Sainsbury PLC to open 10 new Argos digital stores inside existing Sainsbury?s supermarkets.
The group, which also owns DIY retailer Homebase, said the 10 new format digital stores will open by summer this year, and will offer over 20,000 non-grocery products in-store, with an extended range of around 40,000 products which can be ordered in store for home delivery.
Home Retail said the move will bring "extra choice and convenience" to Sainsbury's and Argos' customers who will have access to the combined ranges in the convenience of a Sainsbury's supermarket.
"This strategic capability has opened up options for a variety of new Argos stores and formats, and the possibility that we can now cost-effectively reach more customers and neighbourhoods with an Argos presence," said Home Retail Chief Executive John Walden in a statement.
The Argos digital stores in Sainsbury's will range in size from around 1,000 to over 5,000 square feet.
"They [Argos] will bring something new and different to our customers, and fit well with our strategy of making our supermarkets more convenient. As well as looking at carefully selected partners, we continue to roll out our ranges of own brand clothing and general merchandise in our supermarkets to give customers even more choice and value," said Sainsbury's Chief Executive Mike Coupe.
Home Retail shares were trading 1.2% lower Thursday morning at 193.30 pence, while Sainsbury's was trading 1.3% lower at 259.60 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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