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Comet loses £8.1 million

Electrical giant reports losses as sales slump

Buying digital TV equipment

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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.

If you’re looking for a new Plasma or LCD TV, washing machine or digital camera this Christmas then check out our reviews to ensure that you get the best product.

Alternatively if you want to repair an old TV or cooker then visit Which? Local, the recommendation site exclusively for Which? members to find a repair shop.

Comet outlook

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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