Comet and other retailers established their own websites e-tailers were still able to undercut them because direct shipping of the goods from warehouses to customers cut out the need for large stores, infrastructure and sales staff. In January 2005, Comet faced increasing pressure, when Tesco announced it would trial non-food stores, retailing electrical goods, CDs and DVDs. Trade magazine Retail Week warned that Tesco would launch a "ferocious assault on the market for digital cameras and music players," one of the few growth areas in the sector. In September 2005, Comet posted a second quarter loss of £3.3 million. Jean-Noel Labroue, KESA's chief executive, said: "Trading across our core markets since the end of July has not improved. In view of the continuing decline in consumer confidence across all our markets, we do not anticipate any changes to these conditions in the immediate future." A management buy-out negotiation reached "an advanced stage" but was ultimately abandoned. A £1.7 billion takeover bid was made for KESA in 2006. KESA would not confirm the identity of the bidders when they announced that the offer had been rejected on the grounds that it "undervalued the company and its prospects." Global economic crisis (2007–2012) In September 2007, at the beginning of the financial crisis, KESA warned that its prospects in the United Kingdom were "uncertain" as the credit crunch and higher interest rates could lead to consumers cutting back their spending on new electrical products. Analysts at Landsbanki said: "[W]e see serious long run threats to electrical retailing from the growth of the internet, the proliferation of competition and the resultant downward pressure on prices and margins." In June 2009, KESA posted a pre tax loss of £81.8 million in the 12 months to 30 April 2009, compared to a profit of £128.8 million in the previous year. Over the same period, Comet's retail profit fell by 76.5% to £10.1 million. In April 2010, United States-based Best Buy, the world's largest electrical goods retailer, opened its first store in Thurrock, Essex, with a plan to open one hundred out-of-town warehouses over the following four years. In September 2010, a new logo was launched, similar to the previous logo, but "softer" in design. The Comet name was in lowercase, and accompanied by a new strapline, "Come and Play". The branding aimed to project a more fun and friendly image, and customers were encouraged to come