HomeBase Opens House2Home Stores
Bloomberg News
HomeBase Inc. opened 17 House2Home home-decor stores from Bakersfield to Victorville over the Memorial Day weekend as part of its plan to exit home-improvement retailing.
The Irvine company plans to open 20 more stores in June and July as it replaces some of its HomeBase home-improvement stores with House2Home stores.
The retailer is converting the namesake locations to decorating and furnishings stores because of increasing competition from Home Depot Inc. and Lowe’s Cos., the two largest U.S. home-improvement retailers. HomeBase began exiting the home-improvement business in December.
The stock rose 32 cents to $3 on the New York Stock Exchange.
