Deathwatch: Is Comet fading fast?

15 September 2011

retail deathwatch The news keeps getting worser and worser for ailing electrical retailer Comet. Amid massive uncertainty over the plans that its parent company Kesa has for it, the latest sales figures are nothing short of diabolical.

Comet has reported a 22.1% like-for-like sales drop in its second quarter, and it’s not all down to certain sections of society stealing their electrical goods instead of buying them.

new comet logoKesa are actively looking to sell the chain although there doesn’t seem to be a great deal of interest in it – today’s numbers are likely to drive a potential selling price even lower.

Kesa chief executive Thierry Falque-Pierrotin has tried to put a positive spin on it all, describing the last quarter as “a transitionary period for Comet” – although we’d prefer to use the word ‘plummety’. He added, “With consumer confidence falling to a low ebb across Continental Europe and the UK, market conditions are likely to remain challenging for some time. In these circumstances we will continue our strategy of growing our cross channel, service led, specialist model while maintaining our focus on the strength of our cash generation and balance sheet.”

So, in a nutshell, they’re still looking to flog it. Any takers? Thought not.

TOPICS:   High Street News

3 comments

  • samuri
    ill buy that for a Dollar
  • Dick
    Deathwatch: Is Comet fading fast? No, just tailing off.
  • joe
    if the public thats u stop supporting retail shops u willonly be able to buy your new tv on line without seeing it working . if thats the way u want it carry on not supporting your local shops .

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