Sales Drop of 2% Trips Up HomeBase Stock
- Share via
<i> Associated Press</i>
HomeBase Inc.’s stock slumped Thursday, a day after the Irvine-based home-improvement chain posted higher operating profits for its third-quarter ended Oct. 31, but recorded a 2% drop in sales.
HomeBase blamed falling lumber prices and said the year-ago period benefited from El Nino-related sales.
The shares fell nearly 15%, or $1.13, to $6.50 on volume of 489,700, more than triple the average daily volume over the last three months.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
