The Argos site in Chesterfield town centre is on the market.
Earlier this year, Sainsbury's bought Home Retail Group, which previously owned Argos.
This afternoon, a Sainsbury's spokesman said the company was marketing the Argos site at 4 Vicar Lane and 'will be looking to relocate it to our nearby supermarket'. Sainsbury's has a store at Rother Way in Chesterfield.
It is understood there would be no redundancies if a move goes ahead.
A Sainsbury's spokesman said: "We are always looking to improve the way customers can shop with us and offer greater choice, but have no firm plans or timescales."
The spokesman said he would keep the Derbyshire Times up-to-date.