ScS first half trading in line with expectations
Upholstered furniture retailer ScS has said trading in the first half of its financial year has been in line with expectations.
In the 26 weeks to 25 January, like-for-like order intake declined by 4.4% following a 7.1% drop in the first 17 weeks of the period. However, there was an improvement in the subsequent nine weeks when like-for like order intake increased by 1.2%.
The company has also announced that ScS chief executive David Knight has decided to retire from full time executive responsibilities after 32 years with the business. The company said a search process for his successor will begin shortly. Knight has given the company 12 months’ notice in line with his contract.
Alan Smith, ScS chairman, said: “David has committed a very substantial part of his working career to ScS and has been pivotal to its success. On behalf of the board, shareholders and all other ScS stakeholders, I thank David for his outstanding contribution to the group and wish him the best of health and happiness for his life beyond ScS.”
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