Downswing at Homebase

Homebase, a British DIY retail chain, achieved sales of £ 479 mio in the 18 weeks to 13 January 2009. This amounts to a downswing of 3.8 per cent over the same period last year (-10.2 per cent like-for-like). The company, which is part of the Home Retail Group, reports a sales decline of 7 per cent to £ 1.308 bn (also -10.2 per cent like-for-like) for the 44 weeks to 3 January 2009.