Impact of Comet Administration

Both John Lewis and Dixons have reported benefits from Comet going into administration. John Lewis saw a 17.9% increase in total sales in the seven days to 3rd November, based on the same period last year – with electricals up a massive 28.9%. The newly launched iPad Mini tablet was the best seller, and vision products also did very well. In its turn, Dixons shares rose almost 20% to 24.7p between 31st October and 8th November.

In other news, Dixons Retail has offered job opportunities to Comet staff facing redundancy. It is looking to recruit 3,000 temporary members of staff, including 2,000 in stores, in the run-up to Christmas, and has invited Comet staff to apply.