Tuesday, August 16, 2022

Homebase’s surge in transactions since Wesfarmers takeover

Homebase has recorded an uptick in transactions in last quarter, the first full one Wesfarmers acquired the DIY retailer.

Sales stood at £320 million for the 13 weeks to September 25, while transactions – which is measured by customer participation – went up by 8.4 per cent.

Earlier this year, Home Retail Group sold Homebase to Australian conglomerate Wesfarmers for £340 million. 

Wesfarmers brands includes discount retailers K-Mart and the Australian arm of , stationery retailer Officeworks and supermarket giant Coles.

READ MORE: Wesfarmers to save up to 700 Homebase jobs

It also owns DIY retailer Bunnings, and there are plans to rebrand Homebase under that brand.

Bunnings chief executive officer John Gillam said trading in the UK and Ireland continued to be steady and “good progress is being made across all elements of the acquisition agenda”.

“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,” he said.

Earlier this week, 22 Laura Ashley concessions were pulled from Homerbase stores.

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