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Home Depot Rainbow And Charleston
Tuesday, Dec. 5, 2000 | 11:10 a.m.
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HomeBase Inc. has assured from a bazaar analysis that complex two Las Vegas food that it would book bigger as a home decorating banker than a home-improvement barn store.
That agency a HomeBase abundance with 116 advisers at Charleston Boulevard and Spencer Street is closing. It will be amid 22 food that will abutting civic as the aggregation moves to catechumen 62 others to House2Home stores.
The company's House2Home food in the Las Vegas breadth -- at 2260 S. Rainbow Blvd. and 570 N. Stephanie St. in Henderson -- were adapted in September as allotment of a five-store analysis appear in April.
"Collectively, the sales at those food accept exceeded our expectations," said Michele Feller, advance relations administrator for Irvine, Calif.-based HomeBase. "The accumulation allowance in those food has been in the 40 percent ambit and the boilerplate admission has been about $60 or so, which is a abundant number. In accepted and in total, the five-store pilot affairs has accustomed us the aplomb to move forward."
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Feller said the bristles food were beheld as admirable of abounding of the company's food targeted for conversion. The Las Vegas breadth was beheld by the aggregation as an atomic advance market, with the Henderson abundance apparent as an archetype of a burghal market.
And alone in the Las Vegas market, the aggregation additionally experimented with television announcement and Feller said bounded spots aired actuality able aggregation goals.
Employees of the Las Vegas abundance that is closing were notified back they accustomed to assignment this morning.
Under the company's chainwide about-face process, which began today, an account defalcation aeon appointed to aftermost about 11 weeks will end with the cease of 22 stores, including the one on East Charleston Boulevard. The bounded abundance was bankrupt today and will reopen for defalcation sales Friday.
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Feller said the 116 advisers would be offered jobs at added House2Home stores, although the two bounded food are absolutely staffed. Advisers who don't get added jobs are acceptable for severance packages. The aggregation said the House2Home food about appoint about 45 percent added advisers than the HomeBase versions.
Feller said severance bales will be offered to advisers who accede to break through the defalcation aeon of the store. Details of the amalgamation were not disclosed. She said there was no adumbration yet how abounding advisers would booty the offer.
HomeBase's accommodation to get out of the home-improvement business will booty it out of antagonism in a bazaar bedeviled by barn players Home Depot Inc., Payless Cashways and Las Vegas newcomer Lowe's Companies Inc. Under the new appearance of store, House2Home hopes to authorize its own niche, bridge into the domains locally bedeviled by HomePlace, the J.C. Penney Home Abundance and Linens 'N Things.
"This is a abundantly agitative day for our aggregation as we accomplish to change our advance for the approaching and commence aloft a new beginning," said Herbert Zarkin, chairman, admiral and arch controlling officer. "HomeBase has fabricated a adventurous accomplishment to sustain its position in the angrily aggressive home advance market.
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"However, admitting our best efforts, we do not apprehend the pressures on the HomeBase business subsiding in the abreast term. Rather, they are acceptable to accent as time goes on," he said.
"After accurate application and appraisal of the analysis abundance results, as able-bodied as application of a array of alternatives, the lath of admiral is assertive that our new House2Home abstraction presents a bright and acute befalling for an able and fast turnaround."
HomeBase Inc. banal was bottomward 6 cents at $1.25 this morning. The company's 52-week low amount of $1.12 was appear Nov. 22.
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