Sainsbury’s set to increase Argos offer as sales improve
SAINSBURY'S chief executive Mike Coupe is expected to announce increased fourth-quarter sales and a fresh £1.45billion offer for Home Retail Group this week.
Sainsbury's are set to increase their bid for the acquisition of Home Retail Group
On Tuesday the supermarket giant will publish its trading update, which is expected to show that sales have risen since the start of the year.
According to market research data from Kantar Worldpanel, Sainsbury’s increased its sales by 0.5 per cent to £4.5billion over the three months to the end of February.
Sainsbury's are up against Steinhoff over taking control of Argos-owner Home Retail Group
The high-street stalwart is vying with South African retail conglomerate Steinhoff for control of Argos-owner Home Retail Group and both have been given until 5pm on Friday to either make firm offers or walk away.
Last month Sainsbury’s agreed a £1.3billion takeover deal, only to be trumped a few weeks later by the Harveys and Bensons for Beds owner, which offered £1.4billion.
Rachael Riley joined a host of soap stars to play a Sports Relief football match
Over 1,000 people are taking part in 57 hours continuous 5-a-side football for Sports Relief
Sainsbury’s is the main sponsor of the Sport Relief Games, taking place next weekend.
Earlier this month, former footballers Alan Shearer and Robbie Savage, aided by the likes of Countdown’s Rachel Riley, Coronation Street’s Alan Halsall and Emmerdale’s Chris Bisson, took part in a marathon three-day game of five-a-side football to raise money for Sport Relief.