* First-half like-for-like revenue down 1.7 pct
* Like-for-like revenue from France down 2.8 pct
* Like-for-like revenue from developing businesses down 4.7
* Shares fall 7 pct
Nov 14 Electrical goods retailer Darty Plc
, formerly known as Kesa, reported a 2.2 percent fall in
revenue for the six months through October and said business
conditions would likely remain challenging, sending its shares
down 7 percent.
The company, Europe's third-largest retailer of electrical
goods and related accessories, and its bigger rival Media Markt
Saturn are battling competition from supermarket
chains and online retailers at a time when demand has stagnated.
Darty had to pay a 50 million pounds ($80.4 million) dowry
to a private equity firm last year to take its loss-making UK
business Comet off its hands.
Comet went into administration earlier this month.
Darty said on Wednesday that it expects to benefit in the
remainder of the year from weaker year-ago numbers.
First-half revenue fell 1.7 percent, on a like-for-like
basis. Like-for-like revenue fell 2.8 percent in its France
business, which provides more than half of Darty's total
"Sales in Q2 are worse than Q1 and, while comparatives ease
in second half, we are not confident," Panmure Gordon analyst
Philip Dorgan wrote in a note while retaining the brokerage's
"sell" recommendation on the stock.
The company, which runs about 500 stores in nine European
countries, said it was still looking for a chief executive after
it announced the departure of former CEO Thierry
Falque-Pierrotin in September.
Shares in the company were down 6 percent at 43.12 pence at
1033 GMT on the London Stock Exchange on Wednesday. They fell to
a low of 42.5 pence earlier in the session.