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Kesa Electricals' announce first quarter Interim Management Statement

Web generated sales and Spanish stores boost figures for the period 1 May 2010 to 31 July 2010.

CITY & CORPORATE

Kesa Electricals' announce first quarter Interim Management Statement

The highlights included strong total revenue growth of 8.2%, up 4.3% on a like-for-like basis, driven by a successful World Cup campaign.  There was also 28% growth in web-generated sales with strong double-digit increases in all markets, particularly Darty France at 43%.

Gross margin was down 50 basis points reflecting the mix effect from the strong performance in both TV sales across the Group and multimedia sales at Comet during the period.

Nine Comet stores were refitted with a further 30 planned for Q2.

Commenting on the Group's performance, Chief Executive Thierry Falque-Pierrotin said, ‘We delivered the plans set for the World Cup with excellent TV sales in all our markets during the period, and demonstrated the strength of our concept with significantly above market sales penetration of 3D TVs. In line with our strategy there was also very strong growth in our web-generated sales and good results from the stores rebranded to Darty in Spain.

‘After a positive first quarter we still anticipate that our markets will remain challenging for the remainder of this financial year, but we will maintain our momentum in delivering the benefits of the Darty concept in all our markets.’

 

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