Comet puts Kesa profits on a slide
COMET chain owner Kesa Electricals said yesterday demand for big-ticket white goods such as freezers and dishwashers was tailing off.
Kesa’s group sales for the year to the end of January were up 10.5 per cent to £4.3billion and profits rose 0.6 per cent to £145.6million.
Comet sales were 3.3 per cent higher at £1.7billion, with big sellers including flat-screen TVs and laptop computers.
Profits fell 4.1 per cent to £44.2million.
“As consumer confidence declines, we are anticipating difficult trading conditions ahead,” said chief executive Jean-Noël Labroue. “We will be more focused than ever on margin optimisation and cost control.”
Since the start of the year, the UK had seen a fall in underlying sales, he added. Sales at its French Darty chain grew 9 per cent, with profits down 2.5 per cent.
Both countries saw increased demand for internet and “click and collect” services.
The But furniture store sell-off in France is expected by the end of this month. Shares fell 3.5p to 194p.