Comet sales fall over critical Christmas period

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Comet sales fall over critical Christmas period

Microscope contributor

 

Comet has continued to face downward pressure on sales and margins over the vital Christmas trading period.

 

The UK retailer’s parent Kesa Electricals this morning filed an interim management statement for the three months from 1 November to 8 January that revealed like-for-like group sales had fallen 0.3% but were up 1.3% in sterling .

 

The economic recovery is clearly taking root in certain parts of Europe but Kesa has yet to see improvements in the UK, as Comet sales declined nearly 4% during the festive season.

 

“Comet faced strong comparatives following its market out performance last year...the pressure on gross margin was unchanged from that seen in the first half of last year,” said Kesa chief executive Thierry Falque-Pierrotin.

 

On the continent, Kesa operations Darty France revenues went up 3.6% and the developing operations including Darty Italy, Darty Turkey and Menaje Del Hogar grew 7.8%.

 

“We were well prepared for our peak trading season and saw improving sales trends in most of our businesses,”

 

Other businesses on the continent which include BCC, Vanden Borre and Datart saw revenues drop 5.5%.

 

Web sales climbed 19.3%.

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