Homebase Store Reductions – Trophy Blog #124

First published in October 2014 – This column features news that is a little bit closer to home for me, I worked for the Home Retail group for five years in total, so was regularly updated on it’s expansion details and future ideas. Home Retail owns Argos and Homebase and has it’s head office in Milton Keynes. Homebase has announced it will close 80 of its 323 branches in the next three years. Around 30 branches would close in the current financial year before April 2015, with a further 50 closures by the end of 2017-18. No news has been mentioned about the Selby or local stores as yet. The downturn has been blamed on a generation not interested in DIY, inconsistent standards at stores. It has also returned low sales for the size of its floor space and network. The chain’s online business is far behind other retailers and needs major investment. DIY has taken a big hit recently as B&Q has also suffered during the financial crisis. Consumers have less time and enthusiasm for DIY and are more likely to pay a tradesman to do the job for them. Homebase issued details on it’s operating profit of £27.2m. Paul Loft, who has run Homebase for nine years, will leave the group when a replacement is found. It’s sister business, Argos, leads the way in Toy and electrical sales and is currently recruiting to double its work force for the run up to Christmas. Home Retail is going to share the secrets to the successful Argos website and App with it’s Homebase operations, to see if any improvements can be made in the short term.

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We are pleased to announce the merger of LRB Trophies with Cameo Engraving in York and The Trophy & Print Shop in Norton.

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