ScS trades in line with expectations
Upholstered furniture and floorings retailer ScS has reported trading in line with expectations with order growth of 1.4% in the year to 29 July.
The company had previously said in March that it was facing “very challenging” comparatives and what appeared to be a softening market environment.
While like-for-like order intake in the second half of the year declined by 5%, the two-year like-for-like order intake for the second half of the year improved and delivered growth of 16.9%.
Due to the strong comparatives from last year, the company experienced an order intake decline of 0.7% on a like-for-like basis for the year. However, the two-year like-for-like order intake climbed by 14.3%.
David Knight, chief executive of ScS, said: "We are pleased that despite the challenging comparatives and wider market backdrop we have traded in-line with the board’s expectations for the year.
“Looking ahead, notwithstanding the current trading environment, the Board believes the business remains in a strong position to maximise opportunities as they arise and to grow market share."
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