Sales in decline

In the first seven months of the current financial year Homebase recorded sales 1 per cent lower than in the same period last year. Like-for-like sales were 4 per cent down. According to the first-half trading update of parent company Argos Retail Group, tools, building materials and seasonal gardening lines showed weak growth. By comparison, horticulture brought in good results with new ranges and merchandising, as did kitchens and Furniture Extra. Six new stores and 19 mezzanine floors were added over the seven-month period, so that Homebase had a total of 293 stores at the end of September, 134 of them with mezzanine floors.