Argos in Stamford could close as part of reshuffle by Sainsbury's

The Stamford branch of Argos could close as part of a nationwide reshuffle from parent company Sainsbury's.

It has been revealed that between 60 and 70 of the catalogue outlets will be shut within the next five years.

They will then be incorporated into existing Sainsbury's supermarkets - like the branch in Bourne which opened two years ago.

The Argos branch in Stamford is located at Markham Retail Park on Ryhall Road - two doors down from the Sainsbury's supermarket.

In their trading update, the UK's second largest supermarket chain announced it will be opening 110 new convenience stores across the country, while also closing 40.

About 15 new supermarkets will be opened and 10 existing stores will be closed.

Sainsbury's has owned Argos since September 2016 when Home Retail Group agreed to be taken over for £1.4billion.

Chief executive officer Mike Coupe said: "Argos continued to grow market share in key categories but sales were impacted by reduced promotional activity and the timing of new product releases in gaming and toys.

"Clothing sales were boosted by clearance activity and strong online growth and Tu continued to grow market share."

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