FALLING sales of extended warranties have stunted growth at Comet.
In an update covering the 13 weeks to November 1, Comet's parent Kesa Electricals blamed a reduction in turnover from extended warranties for restricting the rise in the store group's sales to just 3.1%. This was despite the fact that product like-for-like sales had actually risen by 3.7%.
Comet, along with stablemates Darty and BUT in France, Vanden Borre in Belgium, BCC in the Netherlands and Datart in the Czech Republic and Slovakia were hived off from the Kingfisher group in summer to form Kesa Electricals.
From ERT Weekly