Homebase in the red

Homebase, the DIY chain that is part of the British Home Retail Group, has announced a sharp decline in sales. According to an interim report from the group, sales in the 18 weeks to 5 January 2008 fell by 4.1 per cent to £ 498 mio (€ 668.0 mio). It also reveals a decline of 6.3 per cent in like-for-like terms compared with the same period last year. Five new stores were opened in the period under consideration, and two were closed down. What is more, two of the 27 DIY stores acquired from Focus DIY were reopened towards the end of this period. The total number of Homebase home improvement stores came to 320 on 5 January.