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Conversion of HomeBase Stores to Home Decor Outlets Under Way Here

SAN FRANCISCO-HomeBase's shift from the home improvement to the home decor market got under way this week in Northern Calfornia and New Mexico. The plan calls for permanently closing one store in Oakland and three in New Mexico.

By Patricia L. Kirk | Updated on March 02, 2001

SAN FRANCISCO-Phase Five of HomeBase’s (NYSE:HBI) plan to transition from a home-improvement retail business to the home decor market got under way this week at eight Northern California stores and three in Albuquerque, NM. The 11 HomeBase stores began liquidating stock on Thursday, which is expected to continue for the next 11 weeks.

Following liquidation, seven of the stores will close temporarily for renovation and re-merchandising and reopen in late July as House2Home stores; however, one store in Oakland, CA and all three New Mexico stores will close their doors for good, according to company officials.

Faced with fierce competition from home-improvement retail giants Home Depot and Lowe’s, Irvine-based HomeBase announced in early December that it would close 22 West Coast stores and reposition its 62 others as home decor outlets, under the brand name House2Home. The firm’s decision to recast its business concept came after test marketing the idea in five locations in SoCal and Las Vegas.

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