IRVINE, Calif. -- HomeBase Inc. says it will modify its House2Home expansion program and now plans to have a total of 42 House2Home stores open by the end of July 2001, rather than 67 stores by the end of November 2001, as previously announced.
The company’s board of directors voted to reduce the scale of the House2Home rollout to minimize the uncertainties associated with a broader, more expensive rollout and maximize the probability of the expansion program's success. Under the new plan, the company expects to approach break even or possibly return to profitability by the third quarter of this year instead of by the fourth quarter, as previously planned.