Fall in like-for-like result

The British DIY retailer Homebase increased sales in the third quarter (14 weeks to 7 January 2006) by 1 per cent. New stores contributed 4 per cent to the sales growth. The company had 297 stores in operation at the end of this period, 141 of them with a mezzanine floor; one year previously it was 287 outlets (104 with a mezzanine floor). Even though promotional spending was up over the previous year, like-for-like sales were down by 3 per cent. According to the company, sales were below the preceding year's results particularly in the core DIY range and décor lines.