Investment raised

Sainsbury’s adds stores and EV charging points

Sainsburys-local
Sainsbury’s Local in Blairgowrie: the company will add 75 more across the UK (pic: Terry Murden)

Sainsbury’s is opening about 75 Local convenience stores over the next three years and will allocate more space to food-on-the move ranges which is the biggest appeal to customers.

The group today announced that capital expenditure will increase to between £800 million and £850mi per year over the next three years.

It is also investing a further £70m in its Smart Charge ultra-rapid EV charging network to increase its network of reliable ultra-rapid charging bays to more than 100 stores by the end of FY 2024/25.

The Argos chain operating model will be further refined with clustered stores replacing a one-size-fits-all approach. 

The latest moves follow its announcement to gradually withdraw from banking, though it says financial services “will continue to be an important part of the Argos proposition”.

It said: “Consistent with our recent announcement on the future of our Financial Services business, we expect to move to third party provision of Argos financial services products, improving the range and quality of payment solutions we can offer customers and increasing penetration, currently 21% of sales.”



Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.