Poor results for Homebase

Homebase achieved sales of £ 979.1 mio (€ 1.499 bn) in the seven months to the end of September. This amounts to growth of 1.4 per cent over the same period last year, and a figure of minus 2.7 per cent is reported in like-for-like terms. According to a statement from the company, it was especially DIY and decoration products that continued to perform poorly. Profit was down by 22 per cent to £ 40.8 mio (€ 60.4 mio). Homebase had a total of 305 stores at the end of the period in question, 158 of them with a mezzanine floor.
Like Argos, Homebase is also part of the Home Retail Group, which has been a listed company since 10 October after hiving off from the parent group of companies, GUS. It has revealed a sales increase of 8 per cent to £ 2.82 bn ( € 3.37 bn) for the first half of the financial year. This growth is mainly due to Argos, which recorded an increase of 11.5 per cent to £ 1.794 bn (€ 2.655 bn), and 4.6 per cent like-for-like.