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J Sainsbury PLC - London-based supermarket chain - Agrees to buy 10 leasehold stores currently trading as Homebase to convert into Sainsbury’s supermarkets. Homebase is a do-it-yourself store chain. The 10 stores being bought by Sainsbury from HHGL Ltd are scattered across England, Northern Ireland and Scotland, including in Birmingham, Londonderry and Inverurie. They will add 235,000 square feet of new trading space. Sainsbury says the total cost of buying and fitting out the stores is expected to be £130 million. Its free cash flow targets remain unchanged, despite the investment, it said. Sainsbury continues to target at least £500 million in retail free cash flow in financial year 2025 and at least £1.6 billion over the three years to financial 2027. Current stock price: 290.27 pence, up 0.5% on Thursday afternoon in London 12-month change: up 8.7% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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