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HomeBase Inc., the shrinking home goods retail chain, has decided to keep its two Sacramento-area stores and turn them into home decorating shops.
The properties, in Rancho Cordova and in Sacramento at Walnut and Madison avenues, will become House2Home home decorating stores, the retailer said Wednesday.
Money-losing HomeBase of Irvine (NYSE: HBI) announced in December that it was quitting the home improvement business and would move into home decorating. The chain, which lost $70 million in its fiscal year ended Jan. 27, said it would convert 62 of its HomeBase stores to the House2Home format and close 22 others as part of a major turnaround bid.
It hadn't said what would happen to the local stores until Wednesday.
The Sacramento and Rancho Cordova changes are part of phase five of the chain's ongoing conversion. In this phase, HomeBase said it was closing all...