Comet-owner Kesa Electricals has begun to suffer sales declines on the back of the withdrawal of government stimulus initiatives. Like-for-like sales in Comet, which accounts for a third of the group, fell 3.9 per cent in the 10 weeks to the end of January.
IC TIP:
Sell
at
140p
This, coupled with continued weakness in some of Kesa's other established stores - in Holland and the Czech Republic - has mitigated stronger performance by Darty in France and some of Kesa's developing regions. As such, total group sales slipped 0.3 per cent on a like-for-like basis.
The group is hoping for an uplift in the sales of television sets ahead of this summer's World Cup and the switchover to digital TV across Europe.
