Business

Comet saw poor Christmas sales, Kesa says

Comet superstore
Image caption The sale of Comet is due to be completed at the beginning of February

Electrical goods retailer Comet had a poor festive trading period, its owner Kesa Electricals has said.

Like-for-like sales at Comet for the 10 weeks to 8 January fell by 14.5% compared with a year earlier.

In November, Kesa announced that it was selling Comet to a private equity firm for just £2.

But given Comet's weak performance, Kesa said net debts at the business would increase by up to £10-15m, which would hit Kesa and not the new owners.

The sale is due to be completed on 3 February.

Like-for-like sales across the Kesa group, which also owns the Darty brand in continental Europe, fell by 1.3%.

Earlier this week, Dixons Retail, which owns Currys and PC World in the UK, reported a 7% drop in sales in the UK and Irish Republic over the 12 weeks to 7 January.

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