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It went public in 1985, trading on the New York Stock Exchange under the symbol HBI. In 1985, it was acquired by Zayre, a Framingham, Massachusetts-based discount department store chain. After Zayre was acquired by Ames, HomeClub was spun off under a new company called Waban Inc., which also owned BJ's Wholesale Club. In 1991, it discontinued ...
Under the terms of the agreement with Sainsbury's to acquire Home Retail Group, for each Home Retail Group share, shareholders received 0.321 new Sainsbury’s shares and 55p per share. As a result of the sale of Homebase, they also received 25p per share, plus the year's dividend as a final dividend payment. [22]
The new head office was part of a major development by London-based property developer Petros and was set to include residential, retail, hospitality and office space. Dawson has indicated a long-held ambition to commit The Range to a long-term future and its head office jobs to Plymouth, the city where he has lived most of his life.
Since Sainsbury's acquired Argos, more and more standalone stores have been moved into a nearby Sainsbury's store. On 25 September 2019, Sainsbury's announced that over 50 Argos stores would be closing or relocating in order to cut costs. Stores also began to feature digital computers as well as printed catalogues to save costs.
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Habitat is the main homewares and furnishings brand within the Sainsbury's group. It is part of the Sainsbury's Argos business which runs general merchandise and clothing operations including Habitat, Argos, Sainsbury's Home products and Tu clothing. Larger Sainsbury's supermarkets also have Habitat homewares available.
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In November 2002, Homebase was acquired by GUS plc for £900 million, where it formed part of the Argos Retail Group. The previous month, GUS had announced that the Jungle.com business was also to be merged into the ARG division of the business and run from Argos' Milton Keynes headquarters. [ 129 ]