THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
ScS reports strong sales growth

ScS, the furniture and flooring retailer, has reported that total sales increased by 14.5% to £132 million in the first half of its financial year. On a like-for-like basis sales order intake rose by 7.8%.

GENERAL MERCHANDISE

ScS reports strong sales growth

ScS, the furniture and flooring retailer, has reported that total sales increased by 14.5% to £132 million in the first half of its financial year. On a like-for-like basis sales order intake rose by 7.8%.

While gross profit climbed by 13.2% to £57.4 million in the six months to 24 January, the company posted an operating loss of £8.7 million which was in line with expectations and reflected the weighting of advertising and investment in establishing a House of Fraser concession in 30 stores.

Meanwhile, there was an EBITDA loss of £3 million excluding exceptional items compared to an EBITDA loss of £1.3 million in the first half of the previous year.

SCS, which listed on the London Stock Exchange in January, opened new stores in Abbotsinch, Croydon and Slough in the period to take the total number of stores to 97.

It also launched a new e-commerce platform for its ScS trading website as well as a bespoke House of Fraser 'For Living' site.

Online sales climbed by 27.6% to £3.7 million.

The company said its current trading remains in line with market expectations with sales order intake up 7.5% on a like-for-like basis for the first 33 weeks of the year.

David Knight, ScS chief executive, said: “We are delighted to be reporting our maiden set of results since listing on the London Stock Exchange. These results demonstrate the progress that has been made to develop ScS into a strong and resilient business.

“Our sales order intake is our best ever at this time of year and this momentum gives us good visibility for the second half. We are, therefore, confident of meeting market expectations for the full year.

“Looking ahead, we are excited about our future growth prospects, including our new concession agreement with House of Fraser, our flooring offering and online proposition.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process