In a full-year trading update issued today, ScS reports that continued strong trading means its outlook for FY21 (ended 31st July 2021) and FY22 are ahead of market expectations.
ScS says that while its current and prior year have been impacted by regional and national store closures across the UK as a result of Covid-19, when its stores have been open performance has proved strong, with the final seven weeks of the year seeing LFL order growth of +23.7% Yo2Y.
The same period in the prior year benefited from strong pent-up demand following the reopening of stores in May 2020 after the first national lockdown.
Despite the stores being closed for 17 weeks in the FY21 year, ScS' full-year LFL order intake was down just -6.5% on 2019.
As of 31st July 2021, the group's order book stood at £103.5m (including VAT) – down £1.2m YoY and up £60.6m Yo2Y.
The group says its financial position remains robust, with cash of £87.7m and no debt.
"The board is encouraged by the strong trading performance since reopening and therefore believes that the group is in a strong position as we enter the new financial year," states the retailer. "The next few months still hold a level of uncertainty, with the tone of Government messaging at present being one of caution. However, given recent trading and the strength of the current order book, the board's expectations for FY21 and FY22 are ahead of current market forecasts."
