Sainsbury’s Ends Talks With JD.com Over Selling Argos Unit (1)

J Sainsbury Plc terminated talks to sell its general merchandise unit Argos to JD.com Inc. and blamed the Chinese e-commerce firm for trying to “materially revise” the terms of the deal.

Britain’s second-largest grocer said Sunday that JD.com’s new terms and commitments would not be in the best interests of its shareholders and broader stakeholders. It came just a day after Sainsbury’s had said the Chinese firm could drive growth at Argos.

Shares of Sainsbury’s rose as much as 4.5% in early trading on Monday. Its stock is up more than 16% since the start of the year.

Sainsbury’s quick ...