Comet can now make decisions and sign off deals more quickly following parent company Kesa's demerger from Kingfisher in July.
Delegates at the Accessible Retail Conference were told the property industry could help Comet meet its growth plans by finding the new floorspace the company requires. Managing director Simon Fox said Comet, the UK's second-largest electricals retailer with 249 stores, is looking at 150 markets and plans to open 10 to 15 outlets a year.
Comet, one of the pioneers of out-of-town retailing, operates in an environment affected by fierce price deflation on electrical goods for the past four decades. Electricals retailing has also been beset by recent investigations and new controls on extended warranties, credit cards, recycling fridges and other electrical goods. 'It's certainly a sector that has had its share of Government interference,' said Fox.
At the same time, electricals retailing, worth about£20 billion a year and occupying around 10 per cent of all out-of-town floorspace, has had to contend with rising property costs, contributing to the demise of competitors Tempo, Scottish Power, Tiny and most recently PowerHouse.
Comet, which adopted everyday low pricing in 1999, now needs to concentrate on product range, design of its stores and customer service, Fox said.
By the end of the year, Comet will trade from 50 'destination' stores, representing 30 per cent of the business.
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