LONDON (dpa-AFX) - Following media speculation on 13 September, J Sainsbury plc (SBRY.L) confirmed it had been in discussions with JD.com, Inc. (JD, 9618.HK, HJDD.SI) regarding a potential sale of Home Retail Group Limited or 'Argos'. JD.com has since indicated that it would only proceed under significantly revised terms and commitments, which Sainsbury's believes are not in the best interests of its shareholders, employees, or broader stakeholders. As a result, Sainsbury's has formally terminated discussions with JD.com.
Sainsbury's said it continues to have strong momentum and is focused on delivering its Next Level strategy and commitments. It continues to expect to deliver Retail underlying operating profit of around 1 billion pounds and Retail free cash flow of more than 500 million pounds in the financial year 2025/26.
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