Homebase downsizes

Homebase closed down 30 of its stores in the last financial year (End: 28 February 2015) and opened three new stores. This downsizing of its portfolio by 27 to 296 stores, is due to a turnover decline of 3.0 per cent. The like-for-like growth was 2.3 per cent according to the British chain, so that the turnover declined in total by 0.7 per cent to GBP 1.479 bn. Meanwhile, the online revenue accounts for an eight per cent share of this turnover. It has grown by ten per cent.