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  "documentTitle": "Grocery profitability outlook –Europe",
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      "text": ">3%pp reduced fixed costs as % of revenue by reducing the standalone store estate and opening more Argos stores inside Sainsbury’s",
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      "text": "Sainsbury’s, the second largest supermarket in the UK, acquired Argos in 2016, a general merchandise retailer. Sainsbury’s started ~5 years ago to close standalone Argos stores and to incorporate the Argos brand in their supermarket. They are set to close more standalone Argos stores in the future",
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      "text": "Source: Press search, Next Level Sainsbury’s strategy update February 2024",
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