Kesa reviewing Comet after more losses

Kesa Electricals is reviewing the strategy for its loss-making Comet chain as it looks to reverse the decline in sales at the retailer.


Comet posted a €10.3m (£39.1m) loss for the year to 30 April, while revenue fell 3% to €1.8bn (£1.6bn).

The Group, which includes the Darty brand in Europe, reported a 2.7% fall in retail profit to €107m (£95m) despite a 2.2% rise in revenue to €5.9bn (£5.2bn).

Kesa’s French business Darty reported a 12% rise in profit to €149.2m (£132.9m) and a 4.7% rise in revenue to €2.9bn (£2.6bn) for the year.

Kesa says the improved profitability at Darty “reflects the strength of the Darty concept” and says this framework will be a key part in its turnaround plans for Comet, while it explores “strategic alternatives” which could include selling off the chain.

Comet is the latest electricals retailer to report declining performance. Earlier this month Argos posted a 10% fall in sales and Carphone Warehouse, which owns the Best Buy chain, announced that it is “re-evaluating” its strategy after it posted a £62.6m loss for the year.

Rival Dixons is expected to report results on Thursday (23 June).

David Newlands, chairman of Kesa, says: “We have a strong turnaround plan for Comet to restore its profitability in the medium term and in parallel we are examining strategic alternatives to ensure the best overall value for shareholders.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here