20 April 2024, 05:25
By Furniture News Mar 19, 2019

ScS grows profit against challenging backdrop

Sofa and flooring retailer ScS has posted sales growth of +1.2%, revenue growth of 1.1% and a gross profit increase of +1.5% for the HY ended 26th January 2019.

The period saw LFL order intake up +1.5%, while continued investment in ecommerce saw online sales increase +30.0% to £7.8m.

Having exited its House of Fraser concessions and completed refurbishments of flooring department in every store, while improving CX with new technology, the retailer feels it is well placed to face the future.

CEO David Knight comments: “The group continues to deliver profitable growth whilst increasing its resilience. The board is pleased with the group’s year-to-date trading, which is in line with its expectations. For the 33 weeks ended 16th March 2019, the group achieved LFL order intake growth of +2.9% and two-year like-for-like order intake growth of +4.6%. Our focus on providing excellent choice, value and quality for our customers, coupled with our commitment to delivering against our strategic priorities, continues to prove successful.

"The retail market continues to suffer in the midst of the uncertain economic and political environment. We therefore expect the trading environment to continue to remain challenging in the short to medium term, although the board is confident that the group is well positioned to maximise opportunities as they arise.”

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