Comet loses £8.1 millionElectrical giant reports losses as sales slump
16 December 2008
Comet has announced that its sales have fallen 11.6% in the last six months, causing a loss of £8.1m.
Comet's rival DSG International, which owns PC World and Currys, announced first half losses of £30m two weeks ago.
Comet's losses would have been worse if it hadn't cut 300 jobs, the company said. The chain has 252 stores and around 8,500 staff.
TVs and cameras
Comet sells electrical appliances such as TVs, fridge-freezers and washing machines.
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Comet's announcement is a stark change from its previous position. Last year the electrical chain, which is owned by Kesa Electricals. made a profit of a £10.6m.
A company spokesman said: 'The economic climate across Europe is very weak and we do not expect to see any improvement for the remainder of this financial year.'
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