Electricals retailer to close up to 10 Comet stores and axe jobs

11 May 2011
By Rachael Fergusson
Mobile version
Share |
Up to 10 Comet stores to close

Up to 10 Comet stores to close

Comet owner Kesa Electricals is closing up to 10 stores this year after suffering another slide in UK sales.

The retailer, which has 248 outlets in the UK, will also shut one of its three warehouses and axe 12 of its 14 regional service centres, which are used as a base by its engineers who repair and service its products.

With Comet closing between five and 10 stores this year, Kesa said it expects to make 150 redundancies in the UK, including 40 recent job cuts at Comet’s head offices in Hull and Rickmansworth in Hertfordshire.

Same-store sales at Comet declined by 15.2 per cent in the 12 weeks to April 30 and are now down 7.7 per cent over the past year as the retailer struggled in difficult market conditions following January’s increase in VAT to 20 per cent. Online sales in the UK reduced by eight per cent.

Kesa warned earlier this year that Comet will make a loss this year after trade was disrupted by snow in the run-up to Christmas.

The company said it was likely that the warehouse to close would be in Corby, Northamptonshire, although this is subject to consultation.

Kesa’s business in France, where it trades as Darty, saw a five per cent rise in same-store sales in the final quarter of the financial year but this was offset by struggling markets such as the UK and Spain. Overall like-for-like sales were down 3.1 per cent in the period, which was slightly better than the City’s expectations of a fall of five per cent.

Shares rose one per cent as traders reacted to the smaller than expected sales slump and the restructuring plans.

Latest Issue

E&T cover image 1604

"Should the UK's engineers be in or out of Europe? The IET sets out its official position on the EU referendum this week - will you agree?"

->

E&T jobs

  • Solutions Engineer

    Bristol Water
    • United Kingdom
    • £41,000 - 49,000

    We serve a population of over one million people and all the associated businesses in an area of 1,000 square miles centered on Bristol.

    • Recruiter: Bristol Water

    Apply for this job

  • Senior Mechanical Engineer

    Bristol Water
    • United Kingdom
    • £41,000 - 49,000

    We serve a population of over one million people and all the associated businesses in an area of 1,000 square miles centered on Bristol.

    • Recruiter: Bristol Water

    Apply for this job

  • Software Renewals Manager

    BAE Systems
    • Preston, Lancashire, England
    • Negotiable

    Software Renewals Manager Would you like to work in a resourceful and developing role within IT Services? We currently have a vacancy for a Software Renewals Manager at our site in Preston Channel Way. As a Software Renewals Manager, you will be responsi

    • Recruiter: BAE Systems

    Apply for this job

  • Technical Manager

    Aggregate Industries
    • Hulland Ward, Ashbourne
    • Attractive salary plus comprehensive benefits

    A key Technical Manager role driving product improvement and compliance with Aggregate Industries, market leader in Construction Solutions.

    • Recruiter: Aggregate Industries

    Apply for this job

  • Field Application Engineer

    Intel
    • Madrid

    Responsible for giving product presentations to the customer describing how Intel products provide the optimum solution to their application.

    • Recruiter: Intel

    Apply for this job

  • Engineers and Scientists

    European Patent Office
    • Munich and The Hague
    • See job description

    We are looking for Engineers and scientists in various technical fields for our locations in Munich and The Hague.

    • Recruiter: European Patent Office

    Apply for this job

  • Director of Product Management

    EMS Recruitment Group
    • West Yorkshire
    • Circa £70,000 PA + car allowance, excellent benefits including lucrative bonus scheme

    Our client is the undoubted world leader in their field. A highly innovative and progressive specialist electro-mechanical product manufacturer....

    • Recruiter: EMS Recruitment Group

    Apply for this job

  • Electrical Engineer

    Premium job

    Scottish Prison Service
    • Edinburgh, City of Edinburgh
    • £40,654 to £48,579 plus annual supplement of £10,000

    Build Your Engineering Career. The Scottish Prison Service (SPS) is an Agency of the Scottish Government, working in partnership.....

    • Recruiter: Scottish Prison Service

    Apply for this job

  • Sales Electronics Engineer

    Premium job

    Precision Microdrives
    • London (Greater)
    • £25,000 - £30,000 starting salary, inclusive of on-target commissions.

    Precision Microdrives (PMD) is a fast growing technology company that designs, produces and trades miniature electro-mechanical mechanisms

    • Recruiter: Precision Microdrives

    Apply for this job

  • Installation and Commissioning Engineer

    Premium job

    Crest Solutions
    • Corby
    • Competitive

    You will be involved in installation, commissioning & servicing of printing and machine vision related solutions.

    • Recruiter: Crest Solutions

    Apply for this job

More jobs ▶

Subscribe

Choose the way you would like to access the latest news and developments in your field.

Subscribe to E&T