UK: Homebase looking confident

Homebase has delivered a £3.2m profit, compared with a loss of £114.5m in 2018. Like-for-like sales were up 2.6% and gross margin rate were up 2.8% in the year, as customers responded well to new ranges, and improvements to both in-store and online shopping experiences. This has meant that nearly all 164 stores are now profitable. Damian McGloughlin, CEO of Homebase, commented: “18 months into our turnaround, we’re extremely proud of what our team has achieved, working hard with our partners to return to profit and lay solid foundations for growth. We have a very clear vision for Homebase, and we’re excited about the plans we have for the future.”

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