Homebase returns to profit and launches new store format
Homebase has hailed a return to profit ahead of plan in its full-year results and plans to open new smaller-format stores.
The home and DIY retailer registered a surge in profits to £3.2m during the year to 52 weeks to December 29, 2019, up from a £114.5m loss during the same period the previous year.
Homebase’s like-for-like sales increased 2.6% during the period, which it attributed to the positive response from customers to new ranges, in-store improvements and better online shopping experiences.
During the period, Homebase acquired Bathstore, including 26 standalone stores and 49 Bathstore concessions. The home and DIY retailer has invested £10m into the Bathstore showrooms to create inspirational spaces for its customers.
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