Like-for-like decline

Homebase recorded sales of £ 1.594 bn (€ 2.328 bn) in the 2006/07 financial year. This amounts to growth of 2.2 per cent over the previous year. However, the British DIY chain had to accept a 1.4 per cent sales decline in like-for-like terms. The company had 13 more DIY stores at the end of the period under review (310) than one year previously. Homebase and Argos together form the Home Retail Group. The group has announced sales growth of 7.9 per cent for Argos for a total of £ 4.164 bn (€ 6.082 bn), or 2.4 per cent like-for-like.