ScS set to meet full year market expectations
Furniture retailer ScS has said it is on track to meet its full year market expectations after being “encouraged” by recent order levels.
In an interim trading update for the half year to 28 January, the company said it achieved order growth of 2.6% in the final ten weeks of the period, which included its important winter sale.
However, sales in the half year were down 4.7% overall following a decline of 9.1% in the first 16 weeks.
ScS continued to invest in its operations and store expansion programme in the period by opening two new shops in Swindon and York. This means the company now has 100 stores.
Giving an update on its acquisition of Snugsofa.com, the company said the purchase complements its existing proposition and will help diversify its customer base and increase market share. SCS completed the acquisition at the start of this year.
Looking ahead, ScS said: “Despite the current economic climate remaining challenging and unpredictable, the board is encouraged by recent order levels. We continue to believe that the group’s refreshed strategy, strong cost management and robust balance sheet places it in an excellent financial and operational position. The group remains on track to meet full year market expectations.”
