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

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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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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