Homebase increases transactions 8.4 per cent, according to new Wesfarmers quarterly results

Bunnings UK sales for the first quarter were in line with expectations at £320 million ($554 million), says the new Australian owner of the Homebase chain.

Owner Wesfarmers said: "In the United Kingdom and Ireland, good progress continues to be made to reshape the business, with sales of £320 million ($554 million) for the quarter, in line with expectations."

The first quarter marked the fifth, sixth and seventh months of ownership of the Homebase business and trading "continued to be steady".

Wesfarmers added in its release of results for the first quarter of its financial year: "There is a strong focus within the business on continuing to transition core ranges across to home improvement and garden products. Pleasing progress is being made with this work."

Home improvement division chief executive officer John Gillam said the implementation of new pricing, marketing and operational strategies within Homebase is achieving results "in line with plans".

On a like-for-like trading basis across the first quarter, customer participation, as measured by transactions, increased by 8.4 per cent.

Gillam added: "Good progress is also being made across all elements of the acquisition agenda."

Total Bunnings Australia and New Zealand sales for the quarter were $2.7 billion, up 7.4 per cent on the previous corresponding period.

Bunnings is to open several trial rebranded Homebase stores in early 2017 and is also set to move its headquarters within Milton Keynes.


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