Sales slip for Kesa

Dec 9 2010 Huddersfield Daily Examiner

KESA Electricals reported a three-fold rise in UK half-year losses as second quarter sales slumped by 10%.

The owner of the Comet chain said trade worsened significantly after a buoyant first quarter – boosted by the World Cup – when UK like-for-like sales rose by 4.3% due to a rise in flat screen television sales.

Kesa said its Comet chain in the UK saw losses widen to £5.4m in the six months to October 31 against £1.5m a year ago. Sales fell by 2.6% to £726.6m.

Kesa said it was hoping pre-Christmas trading would provide a late lift to the year.