With $100 million from a bond offering last month, HomeBase plans to remodel 17 stores and open as many as 14 new stores over the next two years. HomeBase “will have to become more service-oriented, and really beef up its image and competitive presence.” “This is not good news for HomeBase,” said Asma Usmani, who follows the hardware industry for Edward Jones & Co., a St. For years the chain has been trying to grow in Home Depot’s shadow. Home Depot’s expansion could be particularly troublesome for HomeBase, which operates 85 stores in 10 Western states-including 48 in California. Home Depot claims a 14% market share overall in an industry whose annual sales total about $140 billion. Since Home Depot entered California in 1985, a number of regional chains and independent operators-Builder’s Emporium, National Lumber and Clark Dye Hardware-have gone out of business.īut the hardware industry is a fragmented business because no single large chain has managed to dominate nationally.
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