Sainsbury has agreed to sell Argos for total cash proceeds of at least £120mn.
The transaction is expected to have no impact on underlying operating profit but should boost underlying earnings per share by a low single-digit percentage.
Full-year guidance remains unchanged, with the group expecting underlying operating profit of between £975-1,075mn and Retail free cash flow of more than £500mn.
The shares were up 1.7% in afternoon trading.
Our view
HL view to follow.
J Sainsbury key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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