22 May 2024, 12:36
By Furniture News Mar 21, 2017

Losses narrow and revenues grow at ScS

ScS has announced its interim results for the 26 weeks ended 28th January 2017.

Gross sales were up 14.1% to £165.9m, and revenue up 14.6% to £157.9m. LFL order intake was up 2.7%, while EBITDA improved by £1.1m to £0.1m. The retailer made an operating loss of £2.6m – down from £3.4m in 2016.

Four new stores opened, in Aberdeen, Thanet, Straiton (Edinburgh) and Plymouth. The group now trades from 100 ScS stores and operates 28 House of Fraser concessions – gross sales at which were up 22.9% to £12.8m.

ScS' ecommerce platform saw online gross sales up 25% to £5.4m.

CEO David Knight comments: “For the 33 weeks ended 18th March 2017, LFL order intake growth was 0.9%. This is a pleasing performance against very strong prior year comparatives, and represents a two-year LFL order intake growth of 12.5%.

"Trading in February was challenging, largely driven by reduced footfall. However, we have seen an improvement since the start of March.

"We remain mindful that the group still faces the key Easter and May bank holiday trading periods and faces very strong comparatives during the remainder of the year."

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