ScS growth edges up in ‘encouraging’ results
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ScS has announced it is trading “in line with its expectations for the year” despite concerns it may have been hit by the decline in retail footfall.
The furniture retailer saw an overall order growth of 1.3% in the 52 weeks up to 28 July, along with a like-for-like order intake growth for the first half of the year of 2.2%.
ScS said a “softer trading environment” caused by adverse weather conditions in February and warm weather in June and July, had led to like-for-like order intake in the second half of the year declining by 2.6%.
For the full year, the group achieved an overall like-for-like order intake increase of 0.2%. House of Fraser concessions were said to have contributed to 7.2% of the group’s order intake for the year, despite recent struggles at the department store.
David Knight, CEO at ScS, said: “I am pleased to announce that the group has traded in line with the board’s expectations for the year, an encouraging result given the challenging retail environment.
“We believe this demonstrates the increasingly resilient nature of our business and the success of our value proposition. We remain focused on continuing to deliver our growth strategy and providing excellent choice, value and quality for our customers.”
The retailer will announce its preliminary results for the 52 weeks ended 28 July 2018 on 2 October.
