ScS trading in line with expectations as it appoints new CEO
Furniture retailer ScS has said its like-for-like order intake rose by 15% from 26 July to 1 November but declined by 65.2% in the three weeks to 21 November due to the Covid-19 lockdown.
In a statement ahead of its AGM, the company said trading during this second lockdown has been in line with expectations and similar to that of the first where the majority of customers waited until its stores re-opened to enable them to test products before making a purchase.
However this time around, ScS’s regional distribution centres have remained operational and continue to deliver goods to customers.
Looking ahead, ScS said: “Whilst it is too early to provide clarity on the outlook for the weeks and months ahead, we are encouraged by the trading pattern the group experienced following the first lockdown, when the business benefited from significant pent up demand and an increased level of investment by UK consumers in their homes.
“Whether this trend repeats itself following the second lockdown remains to be seen, however, the Group has built a strong balance sheet and has worked hard to ensure it is as resilient as it can be.”
The retailer has also announced that Steve Carson has been appointed as its new chief executive. He will succeed David Knight who is retiring next year. Carson will join the business on 6 January to enable there to be a handover period before Knight leaves in July.
Carson has most recently been working as group managing director of Holland and Barrett. Prior to that, he held a number of senior roles at Home Retail Group including director of retail and customer operations.
Alan Smith, chairman of ScS, said: “Finding a successor to a CEO as capable and long serving as David has not been easy but I believe that, in Steve, we have found an executive with the right mix of experience, skills and personality to take the Group forward. This early appointment will allow Steve ample time to meet all the ScS team and understand the Company’s approach to its customers.”
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