Profits up at Sainsbury’s and Argos thanks to online sales

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Ex-boxer Chris Eubank helped promote Argos Xbox sales
Ex-boxer Chris Eubank helped promote Argos Xbox sales Credit: Sainsbury’s press centre

IT has been an exceptional year for Sainsbury’s as its online grocery sales grew by 128 per cent in the Christmas quarter of its financial year.

Sales were also good for its subsidiary Argos with its sales up by 62 per cent, supported by TV advertising and demand for electrical goods led the way.

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The Group which returned its business rates relief to the British Government (inline with other major supermarket chains) expects to see pre-tax profits for the year to hit around £330 million (€363 million), well up on 2019 profits of £255 million (€280.5) million.

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