Lates News

The second largest supermarket chain in the UK, J Sainsbury Plc, is in negotiations with e-commerce company JD.com to sell its general merchandise company, Argos. Sainsbury's stated in an email on Saturday that "a deal with JD.com will accelerate the transformation of Argos." JD.com will bring expertise in retail, technology, and logistics, and its investment will drive Argos' growth. Sainsbury's said, "Any potential deal terms will include commitments made by JD.com regarding Argos to benefit customers, employees, and partners." The company did not provide any financial details of the potential deal. The British retailer stated that no agreement has been reached at this stage and it is unclear whether the transaction will proceed.