ScS reports growth in line with expectations
Furniture and flooring retailer ScS has issued a trading update for the 52 weeks ended 27th July, ahead of announcing its preliminary results on 1st October.
The group saw LFL order intake growth of +4.2%, with two-year LFL order intake growth of +5.2%, and expects to report full year results in line with expectations.
LFL order intake growth for the 33 weeks ended 16th March 2019 was +2.9%, and the full-year performance is set to reflect the strong growth the group has achieved in the last 19 weeks. This growth was partly assisted by weaker comparatives in the prior year, as a result of the hot weather and FIFA World Cup.
ScS CEO David Knight comments: “I am delighted to announce that the group has traded in line with our expectations for the year, an encouraging result given the challenging retail environment. This result is underpinned by the team’s relentless focus on becoming Britain’s best-value sofa and carpet retailer, thereby facilitating our continued outperformance in the current political and economic environment. We will continue to target profitable growth by providing an excellent customer experience, with outstanding value, quality and choice for our customers.”