Sainsbury’s will close 60-70 Argos stores as it adds more of the catalogue shop’s outlets to its own stores.
The company will open about 80 Argos concessions in its supermarkets, it said in a trading update.
The move comes as the UK’s second-largest supermarket chain warned investors that profit for the six months to 21 September will dip.
It blamed bad weather and higher marketing costs for the forecast £50m drop on the period last year.
The supermarket will also cease new mortgage sales as part of a plan to make its financial services division more profitable.
