Homebase News Update: Summer Sun Boosts Homebase Profits
Homebase News Update: Summer sun boosts Homebase profits. It seems that soaring summer temperatures this year were very good for sales at the DIY giant.
The recent heat wave has been responsible for rocketing sales at both Homebase and it sister company Argos, the group’s chief executive. Terry Duddy recently announced.
Mr Duddy, who is shortly to leave his role as chief executive at Home Retail Group, said that he did not believe that the increase in sales had been due to an improving economic situation, and that the promised macro-economic factors haven’t filtered through to customers yet. He also said that it appeared that disposable income was reduced compared to figures for the previous month. However, Mr Duddy said, the fact that the summer had been so good and that people were feeling optimistic and happy in the good weather had contributed to a boost in spending at Homebase in particular.
The second quarter sales for the DIY store showed an increase of eleven per cent and were recorded at four hundred million pounds while sales at the sister company Argos had also jumped, although not by as much, with figures recorded up at just over two and a half per cent for the quarter.
Duddy commented that the sales performance at Homebase had been stunning and that he had been even more impressed with what he thought were pretty good figures when he saw the comparison with the company’s biggest rival B&Q who are owned by Kingfisher and who had reported losing market chare over the same financial period.
One of the areas that contributed most to the increased sales figures, was, Duddy reported, the sale of garden furniture which had seen a hike in sales of sixty per cent and the store also sold almost half as many barbecues this summer than they had in the summer of 2012. Homebase has certainly been one of the biggest winners of the UK heat wave that was long awaited and much enjoyed this year.
Homebase News Update
The unexpected good summer and the heat wave had seen many more people able to get out and enjoy their gardens this year and there is no doubt that the sellers of garden furniture like Homebase will have reaped the rewards of the very good summer season. As winter approaches the store will no doubt be looking forward to people stocking up on decorating equipment to do the jobs they have put off as they enjoyed the summer sun.
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