Comet reveals 22% sales decline

The owner of British electrical goods retailer Comet today revealed a 22% plunge in sales as consumer confidence fell to a "low ebb" across the UK.ealed a 22% plunge in sales as consumer confidence fell to a "low ebb" across the UK.

The owner of British electrical goods retailer Comet today revealed a 22% plunge in sales as consumer confidence fell to a "low ebb" across the UK.

While reporting the drop in same-store sales between May and July 31, Kesa Electricals shed no light on the progress of a sale of the struggling retailer, which has 248 stores across the UK.

Chief executive Thierry Falque-Pierrotin said the group continued to examine strategic alternatives but would not comment on speculation over a potential sale, though he hopes any process will be completed before Christmas.

Mr Falque-Pierrotin said laptops, televisions and big-ticket items such as large domestic appliances were not selling, while iPads and tablet computers, headphones and large TVs with 43-inch plus screens were performing well.

Kesa, which also owns Darty France and Dutch retailers Vanden Borre and BCC, reported a 9.9% decline in overall group sales, which was supported by a stronger performance in France and the Netherlands.