The owner of British electrical retailer Comet said the high street chain would slump to a first half loss this year after sales of white goods dived.

Shares in Comet owner Kesa Electricals were deep in the red today after gloom settled over its future trading prospects.

UK electricals group Kesa today said sales at its flagship Comet chain were deteriorating as shoppers cut back on buying goods such as fridges and dishwashers.