Homebase - losses due to closures

The British DIY chain Homebase turned over GBP 451 mio in the third quarter of the current financial year (end: 3 January 2015). That’s 2.7 per cent less than in the prior year quarter. However, according to the company, the 3.3 per cent decrease is due to store closures; like-for-like sales show an increase of 0.6 per cent. The company closed down twelve stores in the reporting period and at the beginning of January had 304 DIY stores. It’s sticking to its goal to close around 25 stores in the current fiscal year.
Taking the first three quarters into account – from April to December 2014 (up to and including 3 January 2015) – Homebase turned over the same amount as in the previous year period, i.e. € 1.286 mio. The like-for-like growth of 2.9 per cent compensated for the turnover loss due to closures.