Homebase reports sales growth

by Joe Thomas, 11 June 2009, 9:15am

LONDON - Homebase, part of the Home Retail Group, has announced better than expected sales performance, which is the first quarterly increase for the DIY retailer since 2005.

Homebase

In the 13 weeks to 30 May, like-for-like sales increased by 3.8% compared to the year earlier period, aided by the recent warm weather during May. However Argos, also part of the Home Retail Group, saw like-for-like sales drop 2.8% for the same period. Total sales at Homebase rose 5.8% to £465m and a 0.9% increase to £937m at Argos.

Terry Duddy, chief executive of Home Retail Group, said: ‘Argos and Homebase each enjoyed better than expected sales in the quarter and grew market share. Homebase in particular saw its performance in gardening and outdoor products benefit from the excellent weather conditions.'