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Homebase To Accelerate Store Closures

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http://www.bbc.co.uk/news/business-29719512

I thought the housing market was booming, so i'm surprised at this.

"Home Retail Group, also the owner of Argos, reported a pre-tax profit of £13.5m for the half-year to the end of August, a 5% fall on the previous year."

Jesus, just a £13.5m profit for all that effot, they should just have bought 1 house in London. :lol: :lol: :lol: :lol:

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Says as much about the housing racket as homebase. The rentier class will not be going to homebase every weekend and the landlords will be looking to spend shit all on their part.

General downturn in progress..

Reckitt revenue down 7%

http://www.iol.co.za/business/international/uk-reckitt-warns-of-lower-sales-1.1768675

Scottish retail - sharpest year on year fall since 1999

http://www.heraldscotland.com/business/markets-economy/scottish-retail-sales-drop-at-fastest-pace-on-record.25656787?utm_source=www.heraldscotland.com&utm_medium=RSS%20Feed&utm_campaign=Scottish%20Business%20News

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People realising that they don't need to keep painting every 3 months for the latest fad?

The drop in volume of people moving home and needing to stamp their mark on the new property must be having a big knock on effect.

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From my experience I can confirm that the DIY/maintenance sector is softening and sales slowing compared to last year.

Fewer undertaking maintenance because they are planning to sell?

It could also be partially weather related (honestly), when the weather is good people do not need to undertake repairs of leaks and the damage they cause, central heating, guttering etc. With the recent wind if some rain follows I would expect sales of 'some' items to pickup.

I would think that in general homebase are selling less crap like fairy lights, bbq's. People are skint, it is showing across all retail sectors - Tesco is the big flashing light for this.

10 years of below inflationary pay rises and the inability to lower interest rates to compensate coupled with fewer mortgage holders is starting to impact the economy. More of the same money printing will worsen the situation.

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http://www.bbc.co.uk/news/business-29719512

I thought the housing market was booming, so i'm surprised at this.

Probably not so much a bellweather for the housing market as a reflection of the high prices and poor quality found at Homebase. Wickes, B&Q and Screwfix do the same thing much better. Homebase, like Tescos, lost the plot a while ago. I'd happily see every Tesco and Homebase bulldozed and the sites given over to housing. I wonder how many homes we could build.

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Aldis have a range of DIY stuff now maybe people are just picking up paints and brushes there, they have an excellent "dad" aisle which has replaced homebase :)

Homebase is very expensive and does sell shit. I only go there for small specialist bits now as I can get basics like nails or hacksaw blades out of the pound shop or a big tool out of aldis.

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Aldis have a range of DIY stuff now maybe people are just picking up paints and brushes there, they have an excellent "dad" aisle which has replaced homebase :)

Homebase is very expensive and does sell shit. I only go there for small specialist bits now as I can get basics like nails or hacksaw blades out of the pound shop or a big tool out of aldis.

My wife works for Argos and she gets a staff discount in the argos stores of 10%, but she gets 20% in Homebase... most of the time it's still cheaper to buy the same item from Argos

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Radio saying that younger homeowners have less DIY expertise, and are happy just to pay people to fix things.

What younger homeowners?

Quite a few factors as to why they and their like are not doing as well......there is that, but anyone who is in the fortunate position that can buy a home is far too busy at work trying to pay for it....little time to do it up....also people who are not confident with DIY (something that is often passed down from father and mother to sons and daughters) will tend to buy a new build or something already done up by professionals, and the professionals or the savvy DIYers or even landlords would never buy DIY tools or paints or anything else in a large DIY store unless urgent required that day....far too expensive.

Now we have the internet things we need can be delivered to our homes or work the following day....often of better quality and of a less price. Even the garden plants can be purchased in other places or grown from seed and cuttings or shared with neighbours via splitting plants and swapping plants that grow well in the local area.

So, because people now have less time, fewer skills and more choices they can buy what the need from better people and places, very often for a lot less.....those with more time can shop around, learn from the internet and do it themselves or ask a very capable friend who they know have the tools and the skills. ;)

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To be honest they're not really a DIY store anymore.

They are an effeminate paint, cushions, fairy light and twig store. Somewhere a woman drags her man around. That's not a DIY store.

I gave up going to a local one about a decade ago when after repeated times going to them to just get ordinary DIY stuff and they never had anything I wanted in stock.

LOL true true, maybe it should read

"primary retailer of sticks in a vase, balls on a plate and beads in a jar faces collapse as housing market sinks"

men are usually at screwfix buying unfeasibly large drill bits

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.....agree there are loads of lampshade, twigs, cushions, candles, throws,baskets, mirrors etc, etc shops around two a penny...all imported clutter.

You only look at the auction sites...99p going going going gone. ;)

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The Burnley store is closing already. There's been a closing down sale. Even with 25-30% off sale price, they are more expensive for many articles than the B&M store right next door or the Wilko just across the car park.

There's been one or two articles worth stocking up on though, so watch out for your local store closing down sale.

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To be honest they're not really a DIY store anymore.

They are an effeminate paint, cushions, fairy light and twig store. Somewhere a woman drags her man around. That's not a DIY store.

I gave up going to a local one about a decade ago when after repeated times going to them to just get ordinary DIY stuff and they never had anything I wanted in stock.

+1 . My experience was that they were double the b&q price. As for Wickes their own brand products have gone downhill.

Presumably diy is dead and its all trade now? Hence why the usual telly presenters - Nick knowles , Dom, Melinda Messenger branch out and are working with trades to fix stuff up.

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Says as much about the housing racket as homebase. The rentier class will not be going to homebase every weekend and the landlords will be looking to spend shit all on their part.

General downturn in progress..

Reckitt revenue down 7%

http://www.iol.co.za/business/international/uk-reckitt-warns-of-lower-sales-1.1768675

Scottish retail - sharpest year on year fall since 1999

http://www.heraldscotland.com/business/markets-economy/scottish-retail-sales-drop-at-fastest-pace-on-record.25656787?utm_source=www.heraldscotland.com&utm_medium=RSS%20Feed&utm_campaign=Scottish%20Business%20News

"People's strong engagement with the independence referendum, unseasonably warm weather, and continued weakness of food sales amid the supermarket price war were cited as key factors."

So people were so engrossed pondering the referendum debate, and listening to all the claptrap from the politicians that they forgot to buy stuff? The debt Ponzi is in full collapse mode now. Great stuff.

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Radio saying that younger homeowners have less DIY expertise, and are happy just to pay people to fix things.

What younger homeowners?

Seems some VI`s desperately want to pretend that the Ponzi still lives, they should take their views to the MSE bunker, they will be welcomed with open arms. As I read it, nearly all the greater fools are in, you can only paint and accessorise so long until the penny drops that it is pricing that is the problem.

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Radio saying that younger homeowners have less DIY expertise, and are happy just to pay people to fix things.

What younger homeowners?

Perhaps the younger homeowner is instead pressed into working to pay his/her inordinate mortgage so they have no time to face the DIY. More fool them imo.

I know of a few people with 'doer-uppers'. Seems to take them literally years to get them done as, surprise surprise, the last thing they both feel like after a day at the office is donning the overalls and getting stuck into DIY.

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Seems some VI`s desperately want to pretend that the Ponzi still lives, they should take their views to the MSE bunker, they will be welcomed with open arms. As I read it, nearly all the greater fools are in, you can only paint and accessorise so long until the penny drops that it is pricing that is the problem.

So we are currently in the denial phase on the ponzi collapse. Next comes panic and terror :)

Im loving this is like watching a really thick person finally understand something after you have been trying to explain for ages then after realization watching the horror spread across there face.

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Not really surprising. Young renters don't buy stuff for the home because they are not allowed to change their landlords taste and landlords don't spend much on improving their rental properties. As more and more properties become BTL's, there will be less and less money going into shops like Habitat and products like Farrow and Ball paint.

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They have said that a lack of DIY skills in current populace is also a factor.

I put it to Homebase that if you have recently moved in to a HTB shoebox with a "dining room" just wide enough for a table, there wont be scope to DIY much at all. Save for a twiggy vase. Since these are the only people who are buying places on Georges freakish schemes, and those places have still got wet plaster on the walls when they move in, its no wonder there's no call for DIY.

Is been D'd already. That will be a lifetime of debt slavery now please.

Phuck all money for anything else.

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More expensive than B & Q and B & Q aren't cheap.

If younger people don't have the the DIY skills it's because on average they don't own housing until on average, what is it these days,nearly 40 or so.

Edited by billybong

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So we are currently in the denial phase on the ponzi collapse. Next comes panic and terror :)

Im loving this is like watching a really thick person finally understand something after you have been trying to explain for ages then after realization watching the horror spread across there face.

Any excuse to post this. Same thing but without the horror.

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When you've got so many in rented housing, with magnolia walls, and unable to do any DIY there is no driver in the economy. Oh dear.

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More expensive than B& Q and B& Q aren't cheap.

If younger people don't have the the DIY skills it's because on average they don't own housing until on average, what is it these days,nearly 40 or so.

That was my experience. Plus my parents rented too. Moving into my own place at 40 a couple of years ago, and being surrounded by people at least a decade older has made me realise what a gulf there is. I know almost zip about DIY, never mind have the tools to do it. Am slowly accumulating both knowledge and tools - but as another poster said I have limited inclination after a hard week's work. Takes ages to get stuff done.

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