Everything about Comet Group Plc totally explained
Comet is an electrical
retailer in the
United Kingdom, which is owned by
KESA Eletricals plc after the demerger of
Kingfisher plc. The group was founded in 1933 by George Hollingberry in
Hull as Comet Battery Stores Limited. The retailer specialises in electrical retailing after Comet demerged from Kingfisher, which also owns electrical retailer Laskys and DIY store
B&Q and formerly
Woolworths and
Superdrug, in 2003 to form a new group under the Kingfisher Electricals S.A. umbrella. In September 2005, Comet undergone a £20 million re branding campaign to differentiate itself from other players in the market, mainly
Currys, as both company logos were in white print against a red background and the company names being 'similar'. It was often the case that customers would buy an item from Currys and attempt to return them to Comet, either believing the two companies were part of the same brand or simply mistaking the two.
Comet operate a policy called
Every Day Low Pricing. With this, they check competitors' prices and where they find lower prices they lower their own to match or beat them. Like many retailers they back this up with a 'price promise'. This states that if a customer finds the same product on sale at another retailer locally (within 10 miles) for less, then Comet will match this price and further beat it by 10% of the difference. The product needs to be the exact same model, sealed new, immediately available from the other retailer and verifiable. They don't match Internet sites or warehouse outlets such as
Makro. The price promise can be used at the time of purchase or at any time within the first 14 days after purchase.
Store types
The retailer has around 250 stores in the UK in three different layouts. The 'high street' style store, contains large display cases stocking mainly small domestic appliances such as grey and brown goods with others in warehouses and few items available for self select. The 'core' store, larger than the previous, stocks a larger range of goods to include white goods. Some items are self select; other larger items are kept in a warehouse. The 'destination' store, stocking nearly the whole range that Comet sells, many items are self select except for very large and delivery only items. These stores will also stock many of what Comet calls the 'premier collection'. These are products by well-known brands such as,
Pioneer,
Apple,
Sony,
AEG and
Miele. Through Kesa, Comet also sell own brand products covering most categories of small electricals under the name
ProLine.
Kesa Electricals have also unveiled plans for forty two-storey Comet outlets by putting 40 mezzanine levels into some of its 250 Comet stores, starting with 10 in 2007. Kesa, who launched a combined television, phone and internet service at its French chain
Darty, ruled out bringing a similar service to the UK. Hugh Harvey, Comet's managing director, said the UK chain would "stick to a traditional retail offer while we watch Mr Murdoch and Mr Branson fight it out." In France, 28,000 subscribers had signed up to
DartyBox by the end of January 2007 with a further 140,000 more subscribers by the end of 2007.
Slogan
Comet's
slogan is "We live electricals". Its mascot is a small man wearing a helmet with a Comet on it and riding a
scooter. The slogan can also be seen on the side of Comet's delivery vans.
Edith Bowman is the voice of the television and radio adverts for Comet since 2005.
Criticism
Comet has come under fire in the past for poor customer service issues and badly trained sales staff.. Complaints about Comet's refusal to refund faulty products have led to investigation by
Trading Standards.
Comet now has a much stronger approach to customer service and say they're trying to ensure every customer is dealt with fairly and when things go wrong that'll endeavor to rectify the situation . Comet has been voted above it's rivals in a recent customer service survey carried out by consumer magazine
Which?.
Financial results
| Year |
000/01 |
001/02 |
002/03 |
003/04 |
004/05 |
005/06 |
| Sales £M |
1,205.8 |
1,335.6 |
1,406.1 |
1,444.4 |
1,538.1 |
1,530 |
| Retail Profit £M |
33.1 |
38.4 |
43.3 |
47.4 |
52.0 |
38.0 |
This data is sourced from the Comet Group website
For financial data for the whole of KESA check the KESA Electricals page.
Recently in 2007 Comet gave in their 11 week financial results which put their sales up 8%, this means that Comet is still second for electronics but closing in on their rival,
Currys. Comet is the leading provider of
White goods (Fridges, Cookers, Dishwashers etc.) in the
United Kingdom. Mr Harvey said Comet was outperforming Currys because of the "quality of advice we give our customers". He said the chain also offered "greater choice and more options in terms of high-end brands".
Comet is rolling out a support service for baffled PC users called "Comet on Call" after a successful trial in 34 stores.
The disappearance of some premium brands from Comets UK stores together with a general downturn in the UK retail environment has led to some speculation that the groups management may be looking to adopt a different sales strategy focusing on on-line retailing.
Competitors
Further Information
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