KESA yesterday reaffirmed that it was pushing ahead with its Comet revamp plan yesterday as sales again tumbled.
The electrical goods retailer said it was keeping its options open, including a possible sale of the struggling chain.
“The Comet turnaround plan is underway while continuing to examine other strategic alternatives,” the firm said. In June Kesa said it was looking at a range of options for Comet, including a disposal or formation of a joint venture, while pressing ahead with a turnaround plan that included selling weaker shops and focussing on profitable ranges like small appliances.
Kesa yesterday also posted a further deterioration in trading at Comet for the three months to 31 July.
Sales at Comet stores open over a year slumped 22.1 per cent, although gross margin increased 80 basis points.
The sales decline was in line with analyst forecasts of a fall of 18-25 per cent and partly reflected a tough World Cup football comparative with the same period last year. Like-for-like sales at the group’s Darty business in France fell 3.7 per cent, better than analyst forecasts.