Homebase hit by weak garden centre trading

Homebase has been hit by weak trading in its garden centres, results released for the eight weeks to 28 February reveal.

Homebase was hit by poor garden trading as eight weeks' trading to 28 February saw a 10.2% drop, or 5.5% after new stores' contribution, in like-for like sales, which were at £205m. The 345-store group said: "Garden maintenance and horticulture areas saw particularly difficult trading environments."

In the half year to 28 February like-for-likes were also down 10.2% at Homebase, part of the Home Retail Group, at £682m. Homebase also incurred a £382m goodwill write down and a £95m impairment charge to the carrying value of store-related assets and provisions for onerous leases.

Homebase opened a net 14 stores this year including nine previously acquired form Focus. Total year sales were £1,513m, with total sales change down 3.5% and like-for-like sales down 10.2%.


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