Homebase suffers from poor weather

Sales reported by Homebase, a British home improvement chain, reveal a like-for-like decline of 6.2 per cent to £ 787.3 mio between March and the end of August. Operational profit went down by 18 per cent when compared with the previous year’s result. The company blames the poor weather conditions in the summer and difficult market conditions for the decline.However, the retailer is achieving strong growth in e-commerce. Sales have risen by 25 per cent following the relaunch of the company’s online shop, so that they now achieve a share of just on five per cent of overall sales.Furthermore, the company will be closing five stores at the end of the year as the result of leases expiring.