Deathwatch: Comet At A Loss After Falling Sales
Following in the footsteps of other high Street stores, electronics giant Comet have reported a half year loss of £8.1m leading up to October 31st this year. According to Kesa Electricals:
...compared with a profit of £10.6m a year earlier...revenues for the period at Comet were down 8% to £723m from £785m last year...overall like-for-like sales across its Europe-wide operations were down 5.5%.
Trading conditions also look to be rough over the Christmas periods due to "extremely difficult trading conditions", they have reported today. This pattern certainly seems to keep repeating. Here's a couple of contrasting comments on Comet from you guys in relation to to the recent Worst UK Company of 2008 Contest:
MV: I can’t believe Comet didn’t make the last 32. They have the worst after sale customer care team I have ever had the misfortune of dealing with.
rr: i wont let you say a bad word against comet…i got a xbox360 arcade from them for £5 last month and was very impressed with the way their customer services acted throughout the whole incident
If you've dealt with Comet, let us know what you think. Would you hedge your bets on Comet making it through in this financial climate?