Homebase 2.6% down at Christmas

Homebase was 2.6% down in like-for-like sales at £475m according to Home Retail Group's Interim Management Statement for the 18 weeks from 28 August 2011 to 31 December 2011.

Homebase like-for-like sales were down for last 18 weeks of 2011 - image: Homebase
Homebase like-for-like sales were down for last 18 weeks of 2011 - image: Homebase

That brings sales figures during the 44 weeks to 31 December at Homebase to 1.3% down at £1.315bn.

Home Retail Group chief executive Terry Duddy said:

"In a trading environment that has been both volatile and demanding, Homebase has again seen more resilient sales.  Argos sales continue to be impacted by the market decline in consumer electronics categories, however we saw internet penetration reach over 40 per cent of total sales, with Check & Reserve being boosted by the development of mobile commerce as customers embrace our leading multi-channel proposition.

"We have managed the business tightly over the peak trading period and expect Group benchmark profit before tax for this financial year to be around the mid-point of the current analyst range of £78m-£125m.

"We will continue to plan cautiously with an ongoing focus on managing robustly both the cost base and the cash position of the Group while prioritising our investment in the ongoing development of our multi-channel capabilities."

Total sales at Homebase declined by 2.5% to £475m in the period 28 August 2011 to 31 December 2011.  Net new space contributed 0.1 per cent with the store portfolio remaining at 342.

Like-for-like sales declined by 2.6% in the same 18-weeks. Big ticket sales were down and continued to be impacted by a challenging market, while sales for the remaining categories were broadly flat.


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