OTHER NEWS - Nov. 18, 1993

HomeBase Moves to Sell, Close Stores: Fullerton-based HomeBase Inc., which earlier said it would close or sell eight of its warehouse-style, home improvement stores in the Midwest to boost profits, said it could extend the decision to an additional 16 stores. HomeBase said losses prompted the announcement. The company reported operating income fell 43% to $8.4 million for the third quarter ended Oct. 30 while sales increased 3.7% to $413 million. Sales at stores open a year or more fell 3.5% from a year ago. The move means the company’s parent, Waban Inc. of Natick, Mass., will pay a pretax charge of about $100 million for the current quarter. The company has 90 stores nationwide, including 51 in California.