MCV/DEVELOP News, events, research and jobs from the games industry
Coming shortly after news of Best Buy’s UK retreat, another big box out-of-town chain has found itself on the rocks. Fortunately, however, the future is somewhat brighter for Comet, which was last night sold by its parent firm Kesa to Hailey Holdings and Hailey Acquisitions for just 2. The pair …
Read More »New games buyer Scott joins Comet
Lucy Scott has been named as Comet’s new games buyer. She replaces Azeem Sadiq who has moved categories to Vision Essentials, Home AV and digital services. Scott joins from Argos, where she worked for over four years on categories including jewellery, gifts, luggages, DVDs and DIY. I’m very happy to …
Read More »Electrical retail short circuits
A Crisis of consumer confidence is having a radical impact on electricals retail. A major shake-up is taking place at Comet after it posted an 8.9m loss for its financial year. The firm will close 17 under-performing shops and is on the hunt for a buyer for its 230-strong chain …
Read More »Comet confirms store closures
Comet is to close 17 under-performing retail outlets after being hit with an 8.9 million loss in the last financial year. According to the Dow Jones Newswire, like for like sales for the year dropped by 7.7 per cent and total revenue declined by 6.8 per cent, despite the company …
Read More »GAME to open Comet concessions
Electricals chain Comet has announced that it is to open a number of GAME concessions in its stores, taking the video games specialist back to out-of-town retail parks. The first, due to open in mid-October, will be in Comet’s Croydon outlet. A further five concessions will be launched before the …
Read More »GAME safe from Best Buy invasion
Ahead of the opening of its first UK stores in Liverpool, Southampton, Merry Hill and Thurrock next month, Verdict Research consulting director Neil Saunders has told MCV that Best Buy poses little danger for established High Street games retailers. Best Buy’s UK arrival shouldn’t prove too much of a threat …
Read More »Comet recruits new games boss
Electronics retail chain Comet has hired Azeem Sadiq as its category buyer for gaming. Although new to the games industry, Sadiq has eight years of retail experience, having held various buying roles for House of Fraser, MFI and online retailer CSN. He replaces Debbie O’Neill, who moved from the games …
Read More »Retail ponders Wii street price rise
The UK High Street is this morning ‘digesting’ the news that the Wii trade cost is set to rise, and hasn’t ruled out an increase in the console’s street price. The trade price for Nintendo Wii is set to increase by around 16.50 (approximately 19 including VAT) due to the …
Read More »Comet to charge suppliers for shelf space
Reports have emerged that Kesa-owned UK electrical retailer Comet is looking to charge its suppliers for shelf space in its stores. MarketingWeek reports that the retailer is demanding sums as high as 15,000 from suppliers to get their products into stores across the country. Speaking to MCV, a spokesperson for …
Read More »Retail threatened by credit ‘crisis’
The UK High Street is battling to prevent a nationwide games stock shortage – as credit insurers cut cover against the industry’s biggest retailers. MCV understands that credit insurers including Atradius, Coface and Euler Hermes have slashed cover on stock sold in to some retailers – including Toys R Us, …
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