Electrical-goods retailer Kesa reported better-than-expected results for the Christmas season as it experienced improving trends in business.
Kesa said comparable sales dropped only by 0.3 per cent during November 1 to January 8 as compared with analysts’ consensus forecast of decline of 4.5 per cent.
Commenting on the topic, Kesa’s chief executive Thierry Falque-Pierrotin said, "We were well prepared for our peak trading season and saw improving sales trends in most of our businesses.”
Like-for-like sales at comet fell 3.9 per cent during the same period. However, fall in sales at Comet was offset to a great extent by a rise of 3.6 per cent in like-for-like sales at Darty.
It should be noted here that Kesa trades as Comet in Britain and as Darty in France and some other countries.
Like-for-like sales at company’s other established businesses in Europe, tumbled 5.5 per cent.
Shares in Kesa closed at 146p-a-share on Tuesday.