- 1 May 2019
- Transport / Logistics Services
Thanks to investment in its delivery network, Argos can deliver to more than 90% of UK postcodes within four hours. Sainsbury’s announced this and that it can offer immediate in-store collection in the group’s annual results.
According to Sainsbury’s around 60% of its Argos sales now start online, with a value of more than £3bn a year, with £2bn a year from mobile devices.
Fast Track delivery sales increased by 13% in the period while Fast Track Click & Collect grew by 10%.
Sainsbury’s saw its operating profit for the year the 9th March fall to £312 million from £518m in 2018, sales were up by £551m to £29bn. Non-underlying items accounted for £396m including £46m in costs from the failed Asda bid.
Sainsbury’s chief executive Mike Coupe said: “We completed the integration of Argos that we set out in 2016, delivering £160 million in synergies ahead of schedule. We completed a major transformation of how we run Sainsbury’s stores and have made significant improvements to store standards in recent months, which remain a focus.”
Looking ahead, Coupe said: “We will increase and accelerate investment in the core business, investing to improve over 400 supermarkets this year. £4.7 billion of our revenue now comes from our online businesses and we are increasing investment in technology to make shopping across Sainsbury’s, Argos and Sainsbury’s Bank as quick and convenient as possible. We will also continue to strengthen our balance sheet and are making a new commitment to reduce net debt by at least £600 million over the next three years.”