Sainsbury’s is closing around 420 standalone Argos stores over the next three years, but will open 150 more inside its supermarket sites.

Argos is one of the biggest retail channels for high volume players in the UK, with watches from Fossil Group, Movado, Casio, Citizen and Sekonda among its bestsellers.

There are currently just over 300 Argos concessions inside Sainsbury’s stores. This will rise to 450 in a roll-out running through to March 2024.

The number of standalone Argos stores will be cut to around 100.

Argos customers can shop online and collect goods in store through this month’s lock down in England, pitching them in competition to independent jewellers for watch sales, although all retailers are permitted to offer the same click and collect service.