Electricals retailer Comet’s new managing director Bob Darke needs to bring a completely fresh approach if he hopes to turn the business around, observers believe.
Darke, who took up the role on Tuesday following the unexpected departure of his predecessor Hugh Harvey, inherits a hard-pressed business and will accelerate Comet’s strategy including strengthening differentiation, adapting product mix and reshaping its store portfolio.
But Shore Capital analyst Ramona Tipnis said Comet - which has smaller stores than rivals such as Dixons and a more edited range -faces problems. “They need to go back to the drawing board,” she said.
Comet’s parent Kesa issues a trading update next week but has already said Comet would make a loss this year. Tipnis said: “That’s a no-brainer. The question is to what degree it will be loss-making.”
Harvey became managing director in 2006. Darke has worked for Comet for more than 10 years.